TOP GLOBAL F.B.S. INVESTMENT FX
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πŸ‘‰πŸ‡ͺπŸ‡ΊπŸ‡¨πŸ‡­πŸ‘ˆEURCHF outlook!

πŸ‡ͺπŸ‡ΊπŸ‡¨πŸ‡­Euro bounced from the upper line of the bearish channel. The pair kept falling and may soon reach 23.6% of Fibo correction levels. Fundamental factors are quite important for the Swiss national currency right now. If the confrontation in the Middle East deteriorates, CHF will strengthen more.

πŸ“‰If bears break 23.6% (0.95890), the pair may retest 200MA at 0.95760 and fall lower – to 0.95640.

πŸ”½Trade: Sell EURCHF if the price breaks 0.95890 (the candlestick should close below the level)
🎯Take Profit 1: 0.95760
🎯Take Profit 2: 0.95620
🎯Take Profit 3: 0.95420

πŸ€”Do you agree with this analysis? What are your ideas about the Swiss franc?

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πŸ‘‹ Hello, guys!

The first day of November is here. And the most exciting event for today is the Fed’s decision about the key rate in the US. What will happen?

With a higher probability, Powell will leave the rate at the same 5.5% level. Thus, according to the CME Wed Watch Tool, 98.7% of market participants believe the rate will be left.
The market will listen closely to what Powell will say. Let’s try to give our own forecast

βœ”οΈIn October, inflation numbers for September were released in the US. CPI MoM grew by 0.4%, while YoY, the index grew by 3.7%. The targeted PCE Core Price Index declined to 3.7%. Inflation is still high, and Powell may emphasize that.

βœ”οΈISM Manufacturing PMI dropped to 46.7 points and confirmed that splashes in July and September were only corrections. But GDP in the 3rd quarter rose by 4.9%. We think that Powell will sweeten the pill and mention GDP growth as confirmation of the strength of the
American economy.

βœ”οΈObviously, Powell will speak more about the Middle East conflict and the risks it creates for developed economies.

As a result, the market may increasingly believe that higher for longer will literally mean HIGHER, but what’s more important for the US dollar - LONGER. Expectations for future rate decreases may move to the end of the next year.

The US dollar may rise. In this case, XAUUSD may fall.

πŸ€”What do you think of that, guys? Do you believe in this scenario? Share your thoughts in the comments below.
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πŸ‘‰πŸ₯‡πŸ‡»πŸ‡¦πŸ‘ˆXAUUSD Outlook!

⚑️On the H1 chart, XAUUSD is testing the 2335 resistance level. The MFI and RSI oscillators show bearish divergence, with the RSI also indicating an overbought condition, potentially signaling a bearish sentiment.

πŸ”Ό If XAUUSD breaks above the 2335 level, it will propel the asset to 2355;
πŸ”½ However, if the price bounces from the resistance, it may trigger a decline to 2320.

Smash ❀️ if you trade XAUUSD today!

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