Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the formation of the ”Wolfe Wave” model. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9175. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through testing the area between the signal lines downward, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from the current levels. At the moment, we should expect an attempt to develop a depreciation of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9145. Then, a rebound upward and the beginning of the rise in the US Dollar rate against the Swiss Franc with a potential target above 0.9325.
USD/CHF Forecast Dollar Franc October 28, 2021
An additional signal in favor of the rise of the Dollar Franc currency pair on FOREX will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish Wolfe Wave pattern. Cancellation of the option to raise the USD/CHF pair on Forex will be a fall and a breakdown of the 0.8935 area. This will indicate a breakdown of the support area and a continued fall in the USD/CHF quotes to an area below the level of 0.8825. Expect confirmation of a rise in the USD/CHF quotes with the breakdown of the resistance area and closing the price above 0.9245, which will indicate a breakdown of the upper boundary of the ”Wolfe Wave” model.
USD/CHF Forecast Dollar Franc October 28, 2021 suggests an attempt to test the support area near the level of 0.9145. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9325. An additional signal in favor of the growth of the Dollar/Franc pair will be a test of the bullish trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 0.8935 area. This will indicate a breakdown of the support level and a continued decline in the pair with a potential target below 0.8825.
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