Currency pair Dollar Franc USD/CHF continues to move within the framework of the correction and the formation of the «Head and Shoulders» model. At the time of publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 1.0049. Moving averages indicate the presence of an upward trend in the pair. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.0055. Then, the continuation of the fall of the US Dollar against the Swiss Franc with a target below the level of 0.9815.
USD/CHF Forecast Dollar Franc March 7, 2019
In favor of the fall of the Dollar/Franc will perform a test of the downward trend line on the indicator of relative strength index (RSI). The second signal will be the formation of a reversal pattern. Cancellation of the fall of the USD/CHF pair on FOREX will be a strong growth and the breakdown of the 1.0105 area. This will indicate a breakdown of the upper limit of the model and continued growth of the USD/CHF quotes to the area above the level of 1.0225. USD/CHF quotes are expected to accelerate with the breakdown of the support area and closing below 0.9920.
USD/CHF Forecast Dollar Franc March 7, 2019 implies an attempt to test the resistance area near the level of 1.0055. Further, the continuation of the fall of the pair USD/CHF with the goal below the level of 0.9815. An additional signal in favor of the fall of the pair Dollar/Franc will be the test of the resistance line on the indicator of relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area 1.0105. This will indicate a breakdown of the upper limit of the model and continued growth of the pair.
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