my point of view on the USDCHF is bearish , if I have to give a score from 1 to 100 to the strenght of this pair I'd give 45 and I'll explain why :
USD vs. CHF Score: 45
reasons:
Current Situation: USD has weakened since the Fed hinted at potential rate cuts in 2024, while CHF has maintained relative strength due to safe-haven demand and SNB intervention.
Potential Influences:
Weakening USD: Continued expectations of future Fed rate cuts and rising global risk aversion could further weaken the USD, potentially benefiting CHF.
Safe-haven CHF: Heightened geopolitical tensions or economic uncertainty could boost demand for CHF as a safe haven, pushing its value up.
SNB Intervention:
The SNB might intervene to limit any significant CHF appreciation, balancing its safe-haven appeal with maintaining export competitiveness.
ECB Policy: The ECB's hawkish stance and potential rate hikes could strengthen the euro, which may indirectly impact the USD/CHF pair.
Domestic factors:
Economic performance in both countries will play a role, with better-than-expected US data potentially strengthening the USD and vice versa.
Therefore, with a score of 45, I expect the USD to remain slightly weaker against the CHF for the rest of December. However, remember that this is just an indicative score based on current information. Unforeseen developments can significantly impact the exchange rate.
technically : the wave is still very soft and no real indcaitions of strength .
that said I'll remain on the selling side for this pair maybe for the rest of this month .
hope this helped guys , I wish you luck
USD vs. CHF Score: 45
reasons:
Current Situation: USD has weakened since the Fed hinted at potential rate cuts in 2024, while CHF has maintained relative strength due to safe-haven demand and SNB intervention.
Potential Influences:
Weakening USD: Continued expectations of future Fed rate cuts and rising global risk aversion could further weaken the USD, potentially benefiting CHF.
Safe-haven CHF: Heightened geopolitical tensions or economic uncertainty could boost demand for CHF as a safe haven, pushing its value up.
SNB Intervention:
The SNB might intervene to limit any significant CHF appreciation, balancing its safe-haven appeal with maintaining export competitiveness.
ECB Policy: The ECB's hawkish stance and potential rate hikes could strengthen the euro, which may indirectly impact the USD/CHF pair.
Domestic factors:
Economic performance in both countries will play a role, with better-than-expected US data potentially strengthening the USD and vice versa.
Therefore, with a score of 45, I expect the USD to remain slightly weaker against the CHF for the rest of December. However, remember that this is just an indicative score based on current information. Unforeseen developments can significantly impact the exchange rate.
technically : the wave is still very soft and no real indcaitions of strength .
that said I'll remain on the selling side for this pair maybe for the rest of this month .
hope this helped guys , I wish you luck