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Technical analysis for the USDCHF on 12.05.2015

The USDCHF: upside correction has paused at 0.9345

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.9465

Min. 0.9170

usdchf3

Looks like the three-day strengthening of the US dollar against the Swiss Franc is now complete. The price halted at 0.9345 resistance and the upside correction turned down.

The reversal of the upside correction is indicated by the escape from the ascending channel (dashed line).

The breakout of 0.9285 support will confirm the reversal and open the way down to 0.9230, 0.9170, 0.9070.

Alternative scenario: the breaking of 0.9370 resistance to the upside will open the way to the descending trend line at 0.9470.

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: upside correction has paused at 0.9345

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 0.9465

Min. 0.9170

usdchf3

Looks like the three-day strengthening of the US dollar against the Swiss Franc is now complete. The price halted at 0.9345 resistance and the upside correction turned down.

The reversal of the upside correction is indicated by the escape from the ascending channel (dashed line).

The breakout of 0.9285 support will confirm the reversal and open the way down to 0.9230, 0.9170, 0.9070.

Alternative scenario: the breaking of 0.9370 resistance to the upside will open the way to the descending trend line at 0.9470.

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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