$USDCHF | Buy Trade | Market Exec |
Technical Confluences:
- Price action is at a Demand Zone that has seen Demands for USD a few times
- Price is also supported by a descending support trendline
- Stochastics is in Oversold conditions in the H4 Timeframe
Fundamental Confluences:
- Market seems to have overdone their expectation of many rate cuts and based on how FED normally reacts, they are more reactive than pre-emptive.
- In that sense, the Jackson Hole event this Friday may disappoint markets if Powell sticks to his affirmation that Sept cut is highly likely but any other cuts will remain data-dependent (If I'm wrong, then we will cut it if it breaks the 2024 low)
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Taking an entry into long
USDCHF here.
Will have interest to add on as long as price remains within in my Orange Position area.
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- Price action is at a Demand Zone that has seen Demands for USD a few times
- Price is also supported by a descending support trendline
- Stochastics is in Oversold conditions in the H4 Timeframe
Fundamental Confluences:
- Market seems to have overdone their expectation of many rate cuts and based on how FED normally reacts, they are more reactive than pre-emptive.
- In that sense, the Jackson Hole event this Friday may disappoint markets if Powell sticks to his affirmation that Sept cut is highly likely but any other cuts will remain data-dependent (If I'm wrong, then we will cut it if it breaks the 2024 low)
-----
Taking an entry into long
USDCHF here.Will have interest to add on as long as price remains within in my Orange Position area.
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Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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