Buy on rebound from 0.9741 level with 0.9843 target. Stop loss = 0.9690.
Reason for the trading strategy
If a reduction in the number of new home sales in the US occurs in September, investors will start to record long positions in the world's reserve currency. At the moment, as 10 years ago, issuing of risky mortgage loans, which may constitute 97% of the purchased houses cost, is becoming popular in the US. Against the background of a possible tightening of the US interest rate policy in the medium term, we should expect future growth of overdue payments on mortgage loans (most of which are issued at a floating interest rate). With the USD/CHF pair declining to the level of 0.9741, opening long positions in is worth considering.
Reason for the trading strategy
If a reduction in the number of new home sales in the US occurs in September, investors will start to record long positions in the world's reserve currency. At the moment, as 10 years ago, issuing of risky mortgage loans, which may constitute 97% of the purchased houses cost, is becoming popular in the US. Against the background of a possible tightening of the US interest rate policy in the medium term, we should expect future growth of overdue payments on mortgage loans (most of which are issued at a floating interest rate). With the USD/CHF pair declining to the level of 0.9741, opening long positions in is worth considering.
USDCHF: consolidation higher than the level of 0.9741
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