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Good Morning Traders,
Nearly at the close of the day on June 15, Lift-Off confirms a SHORT trading signal on USDCHF.
The decision for a pause in US dollar interest rates announced yesterday, along with the 25 basis point increase in interest rates by the ECB, generated volatility in the forex market. In particular on EURUSD. The inverse correlation between EUR/USD and USD/CHF has manifested itself. This movement confirmed the interconnected and influential nature of monetary policy decisions on currency pairs, underscoring the importance of closely following developments in both regions.
In addition, the COT reading on the weakening of the U.S. Dollar read on Large Trader positions is confirmed.
Below chart of USDCHF - with the signal detected by Lift-Off
Signal Chart of June 15, 2023
SHORT - USDCHF
Input price: 10.89127 (current market price and valid any price that is not too far away)
Please note that the chosen signal has been identified from those detected by the Lift-Off indicator, which you can view in the "Signals" section of our website. However, we will NOT provide any guidance on how to handle the trade.
We recommend that you handle the trades as shown during our professional courses on using the platform, available at the following link: https://it.largetrader.com/eventi