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    Technical analysis for the USDCHF on 05.08.2015

    The USDCHF broke strong resistance at 0.9720

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 0.9900

    Min. 0.9650

    usdchf1

    Bulls broke and held above the last week’s high – 0.9720 resistance yesterday. Technically, the breakout increases the potential of the medium-term bullish trend.

    Growth has recently halted and the price consolidated at around the inclined resistance of 0.9780, in the direction of the ascending channel, which indicates further growth.

    The breakout of intermediate resistance at 0.9790 will be a signal for further ascension, and the price will proceed further up to 0.9800, 0.9900.

    Alternative scenario: correction down to the strong support at 0.9720, followed by consolidation 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 broke strong resistance at 0.9720

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 0.9900

    Min. 0.9650

    usdchf1

    Bulls broke and held above the last week’s high – 0.9720 resistance yesterday. Technically, the breakout increases the potential of the medium-term bullish trend.

    Growth has recently halted and the price consolidated at around the inclined resistance of 0.9780, in the direction of the ascending channel, which indicates further growth.

    The breakout of intermediate resistance at 0.9790 will be a signal for further ascension, and the price will proceed further up to 0.9800, 0.9900.

    Alternative scenario: correction down to the strong support at 0.9720, followed by consolidation 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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