🔰 Pair Name : USD/CHF
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SHORT/SELL
USDCHF has successfully refilled the market imbalance after the disappointing NFP news. The price has now broken the daily, 4-hour, and 1-hour demand zones. From a technical standpoint, we believe the price will retest the daily, 1R, and 4-hour demand zones around 0.88561 before dropping to 0.87577 to fill the other market imbalance below 0.87895.
From a fundamental standpoint, the CPI is due out tomorrow. The price will likely range around and retest the demand areas that it broke today. If the CPI news comes out and weakens the dollar even further, the price is likely to break down to 0.87577 or lower.
Conclusion
USDCHF is likely to continue to decline in the near term. The price could retest the 0.88561 demand zone before breaking down to 0.87577 or lower. Traders should be prepared for a volatile market in the coming days.
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SHORT/SELL
USDCHF has successfully refilled the market imbalance after the disappointing NFP news. The price has now broken the daily, 4-hour, and 1-hour demand zones. From a technical standpoint, we believe the price will retest the daily, 1R, and 4-hour demand zones around 0.88561 before dropping to 0.87577 to fill the other market imbalance below 0.87895.
From a fundamental standpoint, the CPI is due out tomorrow. The price will likely range around and retest the demand areas that it broke today. If the CPI news comes out and weakens the dollar even further, the price is likely to break down to 0.87577 or lower.
Conclusion
USDCHF is likely to continue to decline in the near term. The price could retest the 0.88561 demand zone before breaking down to 0.87577 or lower. Traders should be prepared for a volatile market in the coming days.
Trade active
Trade closed: target reached