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Technical analysis for the USDCHF on 13.08.2015

The USDCHF has corrected into the range of the ascending trend line of 0.9685

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.9900

Min. 0.9645

usdchf3

Long consolidation below the round resistance of 0.9900 was followed by the 200-pip decline, which took the price into the range of the ascending trend line – level 0.9685.

The trend line is acting as the key support for this instrument. As long as it remains intact, medium-term bullish potential preserves.

Today bears will probably make another attempt to take the price down into the 0.9685 trend line. If the test takes place amid low volatility and low volumes, there will be a big chance of a rebound up.

Alternative scenario: if bulls manage to break and hold above 0.9800 resistance, it’ll allow them to push the price further up to 0.9900 mark.

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 has corrected into the range of the ascending trend line of 0.9685

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.9900

Min. 0.9645

usdchf3

Long consolidation below the round resistance of 0.9900 was followed by the 200-pip decline, which took the price into the range of the ascending trend line – level 0.9685.

The trend line is acting as the key support for this instrument. As long as it remains intact, medium-term bullish potential preserves.

Today bears will probably make another attempt to take the price down into the 0.9685 trend line. If the test takes place amid low volatility and low volumes, there will be a big chance of a rebound up.

Alternative scenario: if bulls manage to break and hold above 0.9800 resistance, it’ll allow them to push the price further up to 0.9900 mark.

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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