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Technical analysis for the USDCHF on 07.05.2015

The USDCHF keeps trading to the downside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.9285

Min. 0.9000

usdchf2

The US dollar has been falling against the Swiss Franc for the fourth week in row. Decline is taking place at high volumes which indicates increased bearish interest in this market.

Trading is being carried out within the descending channel for the third week. As long as the channel remains safe, bearish potential preserves.

Short-term barrier is currently found at 0.9140 support. Its breakout will open the way down to 0.9100, 0.9000.

Alternative scenario: long consolidation above 0.9140 support is probable.

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 keeps trading to the downside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.9285

Min. 0.9000

usdchf2

The US dollar has been falling against the Swiss Franc for the fourth week in row. Decline is taking place at high volumes which indicates increased bearish interest in this market.

Trading is being carried out within the descending channel for the third week. As long as the channel remains safe, bearish potential preserves.

Short-term barrier is currently found at 0.9140 support. Its breakout will open the way down to 0.9100, 0.9000.

Alternative scenario: long consolidation above 0.9140 support is probable.

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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