
We have outlooked several promising Forex pairs and the result can surprise you!
Don’t waste your time – keep track of how NFP affects the US dollar!
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Here’s another short-term trade idea based on pursuing the market’s correction (remember that this kind of trade is riskier than trend trading).
GBP/CHF got capped last week by the descending 200-week MA at 1.3320. This is a very strong resistance level. On D1, we can see that the pair rapidly turned down from that level. The weekly pivot point is located at 1.3186, and GBP/CHF is now trading below this level. There are reasons to expect that the pound will slide a bit more before it gets to support line of the uptrend which has been in place since the start of the year.
The return above 1.32 is needed to let the pair retest 1.3260 and 1.33.
We have outlooked several promising Forex pairs and the result can surprise you!
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The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
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