First, a review of last week’s forecast:
There were varied opinions regarding USD/CHF again – some experts and indicators voted for a rise while others for a fall. The pair did just that – first, it went up a little, then dropped, then rose again and ended up 100 points higher in one week, although it doesn’t qualify yet as a full-on upward reversal.
Forecast...
Since Monday USDCHF has retraced back to current level 0.9950, sitting just above dynamic line, that was made through 09-25 Sep highs. Its current value 0.9940 works as pivotal to USDCHF.
Above 0.9950 I expect further USDCHF growth targeting 1.0100.
4-hour close below blue line indicates retest of 0.9770 area.
First, a review of the forecast for the past week:
There was no clarity about USD/CHF. One of the scenarios was a fall to support around 0.9765. The pair did go down but stalled at 0.9800 without hitting the said bottom level.
Forecast for the coming week.
Summing up the opinions of several dozen analysts from leading banks and broker companies as well as...
Overvalued Swiss franc?
On march 19th, 2015 SNB left benchmark interest rates @ -1.25% and -0.5% and -0.75% on deposits, to discourage holding investments in Swiss Franc. The bank believes that the Franc is overvalued and should continue to weaken overtime. The SNB revised down growth in the Swiss economy to 1% from 2%. They believe that a stronger Franc keeps...
As you can see price just bounced at the down trend and MACD is showing divergence.
price should go down to the red circule and if it break the trend there will be a possibility for a short.
keep an eye on this!!!
what do you think?
Looking at the pair, it pushed down to a key support level of 89.361. Traders rejected going down below those prices and the bullish momentum built up to take the pair to the resistance level at 92.309 (0.382 fib). Prices then fell to reject the support of 91.177 (0.236 fib) and break the pivot or previous high @ 92.357 to push towards the 93.101 near the 93.223...
