Bears return for USDCHF
Updated
Despite a strong bullish rally from USDCHF, in the past couple of weeks, bulls have not been able to supply a strong enough push to battle the bearish liquidity filled in at the 1.0000 psychological level. Now, after multiple retests of this important level and continuous rejection. Bears will now look to re enter the market and push USDCHF back down to at least a 50% retracement of the bullish rally.
Amidst the chaos of the US China Trade war, traders are pulling out of the Dollar and investing into safe havens such as the Swiss franc and Gold. This weakening of the US Dollar is welcomed by Trump, who wants the US to be competitive with trade and exports in order to somewhat negate the damage of the tariffs imposed by China.
Amidst the chaos of the US China Trade war, traders are pulling out of the Dollar and investing into safe havens such as the Swiss franc and Gold. This weakening of the US Dollar is welcomed by Trump, who wants the US to be competitive with trade and exports in order to somewhat negate the damage of the tariffs imposed by China.
Trade closed: target reached
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