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The Aftermath of the FED

Good morning Traders!

In yesterday’s press conference, which followed another rate increase by the FED of 0.25%, the FED chair Jerome Powell, has hinted that we just may see a pause to the FED’s aggressive tightening policy.

USDCHF

This has seen the US dollar weakening against many of it’s trading partners, and the move on USDCHF has seen the market breaking the support level at around the 0.8860 level.

USDCHF 4h
USDCHF D

With the market currently overextended from it’s Moving Averages, on the short term, I am looking for a pullback to the 0.89 area, which is a local Support level on the mid timeframe, and then for a rollover setup, keeping in mind, that the market is very close to it’s major low last printed in January 2021.

USDCHF W
USDCHF W

For a longer term approach, I will be keeping an eye for a deeper pullback, to the 0.9050 area, which may bring the market closer to it’s Moving Averages on the higher timeframes, and then look for signs that the pullback is over and the market is ready to resume it’s overall downtrend.

Happy Trading!

Tamar Mehr

Tamar Mehr is a professional trader, neuropsychological trading mentor, FXGlobe Ambassador, and decision-making expert. She’s based in Brisbane, Australia.

Trading Advice Disclaimer:
Our Ambassador’s Daily Picks are not trading advice. These are informational articles covering the events which happened in the market already & scheduled events which are scheduled to happen in the Economic & Earnings Calendar.

General Risk Warning:
Trading leveraged products such as Forex and CFDs carries a high level of risk thus may not be appropriate and/or suitable for all investors. The investment value can both increase and/or decrease and the investors may lose all their invested capital. The content of this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Under no circumstances shall the Company or affiliated Companies have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to leveraged products.

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APLFX (PTY) LTD acts solely as an intermediary in terms of the FAIS Act, rendering only an intermediary service (i.e., no market making is conducted by APLFX (PTY) LTD) in relation to derivative products offered by FS INTERNATIONAL LTD (i.e., the Product Supplier).

By proceeding with opening an account, this will be registered with FS INTERNATIONAL LTD, which is authorised and regulated by the Vanuatu Financial Services Commission (VFSC) with license number 700227. FS INTERNATIONAL LTD falls outside the South African regulatory framework and Vanuatu’s laws and regulations will apply in relation to your account.

APLFX (PTY) LTD is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) with authorisation number 52045.

APLFX (PTY) LTD acts solely as an intermediary in terms of the FAIS Act, rendering only intermediary service (i.e., no market making nor product producer is conducted by APLFX (PTY) LTD) in relation to derivative products through a licensed Product Supplier.

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