Fundamental Backdrop
1. CHF CPI m/m increased by 0.2%, much lower than the forecast 0.4% and previous 0.7% m/m.
2. The softer print of CPI shows that inflation has been slowing down at a much faster rate which could signify a dovish landing on the SNB.
3. Market Open on Dollar has been very bullish, however, with NFP lurking this week, expect plenty of volatility in the market.
4. USD ISM Manufacturing PMI releasing later on in the day and market has been pricing in a 47.5 compared to 47.7 previous.
Technical Confluences
1. H4 resistance level at 0.921.
2. H4 support level at 0.9085.
3. Price could potentially retest the resistance level at 0.921.
Idea
Given the weak CPI reading on CHF, there is a weak bullish outlook on USDCHF as upcoming ISM news on USD is also slated to be a softer print.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. CHF CPI m/m increased by 0.2%, much lower than the forecast 0.4% and previous 0.7% m/m.
2. The softer print of CPI shows that inflation has been slowing down at a much faster rate which could signify a dovish landing on the SNB.
3. Market Open on Dollar has been very bullish, however, with NFP lurking this week, expect plenty of volatility in the market.
4. USD ISM Manufacturing PMI releasing later on in the day and market has been pricing in a 47.5 compared to 47.7 previous.
Technical Confluences
1. H4 resistance level at 0.921.
2. H4 support level at 0.9085.
3. Price could potentially retest the resistance level at 0.921.
Idea
Given the weak CPI reading on CHF, there is a weak bullish outlook on USDCHF as upcoming ISM news on USD is also slated to be a softer print.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.