USD/CHF Expected to Turn Bullish After Extended Downtrend

11 wrz

This time, I expect USD/CHF to turn bullish after a prolonged bearish trend. The pair reached an extreme low of 0.83750 and is now showing signs of a bullish reversal. I'm targeting a potential rise to 0.85559 or higher, given the increased upward momentum. Let's see how it unfolds.

12 wrz

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Profit booked because of US Data Result
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The US Consumer Price Index (CPI) for August 2024 was released today, showing a year-on-year increase of 2.5%, while the Core CPI (excluding food and energy) increased by 3.2%. Both figures were in line with expectations, indicating that inflation pressures remain moderate but steady​.

𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗨𝗦𝗗 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝘅 𝗣𝗮𝗶𝗿𝘀:
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𝗣𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗳𝗼𝗿 𝗨𝗦𝗗: The data suggests that inflation is stabilizing, which supports the Federal Reserve’s cautious approach toward future rate hikes. This could strengthen the USD as traders anticipate that the Fed may hold rates higher for longer.

𝐄𝐔𝐑/𝐔𝐒𝐃 𝐚𝐧𝐝 𝐆𝐁𝐏/𝐔𝐒𝐃: Given the stabilizing inflation in the U.S., USD could gain strength against both the euro and the British pound, potentially pushing EUR/USD and GBP/USD lower in the short term.

𝗨𝗦𝗗/𝗝𝗣𝗬: The positive CPI data may also drive USD/JPY higher as the USD strengthens.

///𝗧𝗿𝗮𝗱𝗲𝗿𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗺𝗼𝗻𝗶𝘁𝗼𝗿 𝘁𝗵𝗲 𝗙𝗲𝗱’𝘀 𝗽𝗼𝗹𝗶𝗰𝘆 𝘀𝘁𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗳𝘂𝗿𝘁𝗵𝗲𝗿 𝗱𝗶𝗿𝗲𝗰𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗲𝘀𝗲 𝗽𝗮𝗶𝗿𝘀.///