USDCHF LONG TERM ANALYSIS
Updated
Recently, the DXY dropped to new lows ( 99.70). Currently the DXY is trading at 100.80, having risen more than 100 PIPS. Its not completely clear if we have bottomed on the DXY, but the chances are high. Both the DXY and USDCHF are sitting on a long term weekly/monthly support, which is a main contributing factor to the fact that we may have bottomed and the dollar is on the rise.
Comment
Price closed well above the 0.8600 support last week. As the DXY rises, I am anticipating this support to hold and the bulls to come in at this point in the coming days/weeks.Comment
Finally , we will be able to confirm if this is a fakeout or a breakout. The FOMC meets today to announce the Dollar interest rates. In the last meeting, the FOMC maintained the rates at 5.52% for the first time since March 2022.If the FOMC maintains the interest rates at 5.25% for the second tome in a row, the DXY may rise from the current levels, and USDCHF may follow. If the FOMC increases the interest rates, then the DXY may fall further, confirming more downside for USDCHF.Comment
Price is back above the support. Looks like the support will hold.Comment
150 PIPS !Comment
Finally price is back above the support !Comment
The support is strong. Price is finally trading 100 pips above the support !Comment
130 PIPS STRONG !Comment
YOH!! 200 PIPS ON THE TREND !Comment
New highs everyday ! The trend is on fire ! The patient will reap big from my analysis !Comment
250 PIPS FLOATING !Comment
0.8860 is the new high on the current bull trend !Comment
New highs on the trend @ 0.8900 !Comment
New highs tagged on the trend @ 0.8950 !Comment
0.8980 is the new high on the USDCHF trend !Comment
300 PIPS ON THE TREND FOR MY PATIENT TREND FOLLOWERS !Comment
400 PIPS INNIT !!Comment
500 PIPS ON THE TREND !Comment
USDCHF resumes the UPTREND !
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