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Technical analysis for the USDCHF on 18.05.2015

The USDCHF: bearish trend preserves

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.9300

Min. 0.9170

usdchf4

Downtrend in the CHF has turned into a sideways consolidation, but still preserves.

Bulls attempted to test strong upper border of the descending channel at 0.9250 on Friday, but failed. The price bounced down and the trades closed with the “hammer” figure.

There’s a good chance, that after the second test of the channel’s upper border at 0.9230 – 0.9220 the price will bounce down and bearish trend will continue. The closest decline target is found at 0.9070 support.

Alternative scenario: the breakout of the descending channel’s upper border at 0.9230 will trigger correction up.

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: bearish trend preserves

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.9300

Min. 0.9170

usdchf4

Downtrend in the CHF has turned into a sideways consolidation, but still preserves.

Bulls attempted to test strong upper border of the descending channel at 0.9250 on Friday, but failed. The price bounced down and the trades closed with the “hammer” figure.

There’s a good chance, that after the second test of the channel’s upper border at 0.9230 – 0.9220 the price will bounce down and bearish trend will continue. The closest decline target is found at 0.9070 support.

Alternative scenario: the breakout of the descending channel’s upper border at 0.9230 will trigger correction up.

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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