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Technical analysis for the USDCHF on 27.08.2015

The USDCHF is correcting to the descending trend line of 0.9610

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 145 pips Max. 0.9700

Min. 0.9385

usdchf6

Rapid decline of the US dollar was halted by 0.9260 support, which the price approached at increased volume, but then turned up for correction.

The US dollar has been recovering its positions for the third consecutive day. The price has already approached strong resistance at 0.9530. If growth continues, the next target will be situated at the descending trend line of 0.9610.

The test of one of the levels at 0.9530, 0.9610 – will most likely trigger consolidation, followed by the rebound down. Potential decline targets will be found at 0.9500, 0.9385.

Alternative scenario: to continue correction up, bulls have to break above the descending trend line of 0.9610. If they succeed, the breakout will open the way to 0.9645, 0.9700.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The USDCHF is correcting to the descending trend line of 0.9610

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 145 pips Max. 0.9700

Min. 0.9385

usdchf6

Rapid decline of the US dollar was halted by 0.9260 support, which the price approached at increased volume, but then turned up for correction.

The US dollar has been recovering its positions for the third consecutive day. The price has already approached strong resistance at 0.9530. If growth continues, the next target will be situated at the descending trend line of 0.9610.

The test of one of the levels at 0.9530, 0.9610 – will most likely trigger consolidation, followed by the rebound down. Potential decline targets will be found at 0.9500, 0.9385.

Alternative scenario: to continue correction up, bulls have to break above the descending trend line of 0.9610. If they succeed, the breakout will open the way to 0.9645, 0.9700.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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