Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9370. The pair continues to move in the framework of a strong fall and a downward channel. Unfortunately, the bulls were not able to start testing the bullish Wolfe Wave model. Moving averages indicate a downward trend. Prices pushed from the area between the signal lines, indicating strong pressure from sellers of American currency. At the moment, we should expect an attempt to increase prices and test the resistance area near the level of 0.9525. Further, a rebound and an attempt to continue the fall of the pair with a potential target below the level of 0.8925.
USD/CHF Forecast and Analysis March 9 — 13, 2020
An additional signal in favor of the fall of the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling USD/CHF will be a strong growth and a breakdown of the area of 0.9715. This will indicate a breakdown of the upper boundary of the channel and continued growth of the pair on Forex with a target above the area of 0.9975. A confirmation of the fall of the pair in the current trading week March 9 — 13, 2020 will be a breakdown of the support area and closing of quotations below the level of 0.9285.
USD/CHF Forecast and Analysis March 9 — 13, 2020 suggests an attempt to test the resistance level near the area of 0.9525. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8925. A test of the trend line on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option of falling USD/CHF will be a breakdown of the resistance area and closing of quotations above the level of 0.9715. This will indicate a continued rise of the pair with a potential target above the level of 0.9975.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
