BULL RUN FOR USDCHF
TECHNICAL ANALYSIS
THERE AS BEEN A MAJOR UPTREND OF USD AGAINTS CHF, BACKTESTING THE MARKET WE CAN SEE HOW THE MARKET AS RETESTED ON 0.857 USING THE FIBONNACI RETRACEMENT AND HEAD THROUGH 0.785 MOVING TO RETEST AT 0.618. THAT'S A BULL RUN BEFORE THE MARKET HIT IT'S ALL MARK OF 0.618 ON THE FIBONACCI INDICATOR FOR THE WEEK.
TP 0.91863
SL 0.90418
FUNDAMENTAL ANALYSIS BASE ON CURRENT DATAS
1. The manufacturing and pharmaceutical industries have been hit hardest by the economic slowdown. And the construction sector has also seen negative growth recently. The reason is rising interest rates: The Swiss National Bank (SNB) has raised its key interest rate from -0.75% to 1.75% in just one year to fight inflation. This makes investments more expensive and slows down the economy.
2. The internet giant Google looks set to cut around 50 jobs in Zurich, its main site in Switzerland, according to a news report.
THERE AS BEEN A MAJOR UPTREND OF USD AGAINTS CHF, BACKTESTING THE MARKET WE CAN SEE HOW THE MARKET AS RETESTED ON 0.857 USING THE FIBONNACI RETRACEMENT AND HEAD THROUGH 0.785 MOVING TO RETEST AT 0.618. THAT'S A BULL RUN BEFORE THE MARKET HIT IT'S ALL MARK OF 0.618 ON THE FIBONACCI INDICATOR FOR THE WEEK.
TP 0.91863
SL 0.90418
FUNDAMENTAL ANALYSIS BASE ON CURRENT DATAS
1. The manufacturing and pharmaceutical industries have been hit hardest by the economic slowdown. And the construction sector has also seen negative growth recently. The reason is rising interest rates: The Swiss National Bank (SNB) has raised its key interest rate from -0.75% to 1.75% in just one year to fight inflation. This makes investments more expensive and slows down the economy.
2. The internet giant Google looks set to cut around 50 jobs in Zurich, its main site in Switzerland, according to a news report.
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