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USDCHF: wide amplitude oscillation moves up
2022-10-03
1257
Fundamental analysis:
The USD/CHF remained volatile around 0.98589. The leading indicator of Swiss KOF economy in September: if considering the sharp correction in August, this increase is not too big, but at least it shows that there are some preliminary signs of recovery in Swiss economic activity, which seems to be stabilizing to some extent. Nevertheless, as the European economic outlook enters the "deep winter", there may be (negative) spillover effects.
USD/CHF USDCHF - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the trend of short-term wide range shocks has been rising for many times. The bullish sentiment in the market remains unchanged. The MACD index hovers in a weak position near the axis 0, and the RSI index is in a narrow range on the online side of 50 equilibrium;
Empty turning point: 0.98492
Pressing position: 0.98948, 0.99265
Support position: 0.98160, 0.97835
Trading strategy: bullish above 0.98492, target 0.98948, 0.99265
Alternative strategy: bearish at 0.98492, target 0.98160, 0.97835
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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