The USD/CHF pair fell enough during the session to test the parity level for support. Ultimately, we ended up forming a hammer that suggests that the
The USD/CHF pair fell enough during the session to test the parity level for support. Ultimately, we ended up forming a hammer that suggests that the market is going to continue going much higher as the large, round, psychologically significant number should continue to offer buying pressure. The US dollar strengthens due to the fact that the Federal Reserve will more than likely have to raise interest rates going forward. Ultimately, this is a market that should continue to favor North America over Europe, as in general markets are favoring that type of trade.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
