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Technical analysis for the USDCHF on 20.08.2015

The USDCHF: the uptrend has turned down

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 0.9800

Min. 0.9530

usdchf5

Bears broke the key support and the lower border of the ascending channel – level 0.9735 yesterday. The exit from the medium-tem ascending channel indicates a reversal.

The closest decline target was situated at the tough support of 0.9645. The price consolidated slightly above this barrier and may now pullback up towards resistance at 0.9720.

The test of the 0.9720 resistance will most likely trigger further correction down. Potential decline targets are situated at 0.9645, 0.9530.

Alternative scenario: long consolidation above 0.9645 support.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The USDCHF: the uptrend has turned down

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 0.9800

Min. 0.9530

usdchf5

Bears broke the key support and the lower border of the ascending channel – level 0.9735 yesterday. The exit from the medium-tem ascending channel indicates a reversal.

The closest decline target was situated at the tough support of 0.9645. The price consolidated slightly above this barrier and may now pullback up towards resistance at 0.9720.

The test of the 0.9720 resistance will most likely trigger further correction down. Potential decline targets are situated at 0.9645, 0.9530.

Alternative scenario: long consolidation above 0.9645 support.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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