Less Likely for RBA to continue rate hikes (declining CPI data)
- Can change easily if inflation risks rise with increases in WTI (oil price)
The CHF is one of the strongest performers of 2023 thus far, I see no reason for any swift changes to this outlook...
On the lower timeframe... (4h)
- RSI divergence
- Liquidity grab in resistance
To me it looks like we have had a liquidity grab in a significant area of resistance. My trade is now active and will remain attentive to the lower timeframe for any sign of reversals for or against the trade idea. Other than that, I will look to the CNY data in the coming days and be watching the RBA cash rate next Tuesday (going with CPI figures, the expectation is an unchanged interest rate of 4.1%)
This is just a trade idea and I'm managing my risk!
- Can change easily if inflation risks rise with increases in WTI (oil price)
The CHF is one of the strongest performers of 2023 thus far, I see no reason for any swift changes to this outlook...
On the lower timeframe... (4h)
- RSI divergence
- Liquidity grab in resistance
To me it looks like we have had a liquidity grab in a significant area of resistance. My trade is now active and will remain attentive to the lower timeframe for any sign of reversals for or against the trade idea. Other than that, I will look to the CNY data in the coming days and be watching the RBA cash rate next Tuesday (going with CPI figures, the expectation is an unchanged interest rate of 4.1%)
This is just a trade idea and I'm managing my risk!