USDCHF Potential Forecast Pre-CPI | 6th March 2023
アップデート済
Fundamental Backdrop
1. CHF's CPI is going to be released at 3.30pm SGT.
2. The CPI accounts for a majority of overall inflation
3. This affects The Swiss National Bank's decision on raising or lowering interest rates
3. Will update more when the CPI is released
Technical Confluences
1. Price is currently heading towards the support at 0.93500 which coincides with the 23.6% Fibonacci line
Idea
If the CPI released is worse than expected/previous, expect CHF to drop towards the support at 0.93500 which coincides with the 23.6% Fibonacci line.
Alternatively, if the CPI is better, price could head back up towards the resistance at 0.94000
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. CHF's CPI is going to be released at 3.30pm SGT.
2. The CPI accounts for a majority of overall inflation
3. This affects The Swiss National Bank's decision on raising or lowering interest rates
3. Will update more when the CPI is released
Technical Confluences
1. Price is currently heading towards the support at 0.93500 which coincides with the 23.6% Fibonacci line
Idea
If the CPI released is worse than expected/previous, expect CHF to drop towards the support at 0.93500 which coincides with the 23.6% Fibonacci line.
Alternatively, if the CPI is better, price could head back up towards the resistance at 0.94000
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
ノート
With the CPI Release better than previous 0.6% to 0.7%, this shows that inflation is increasing which can cause The Swiss National Bank's to potentially raise interest rates, strengthening the CHF.Expecting price to head down towards the 0.92900 Support level.
ノート
Edit on initial idea. Was a mistake on our end we apologise for the wrong explanationIdea
If the CPI released is worse than expected/previous, expect CHF to head back up towards the resistance at 0.94000
Alternatively, if the CPI is better, price could drop towards the support at 0.93500 which coincides with the 23.6% Fibonacci line.
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