Currency pair Dollar Franc USD/CHF continues to move within the descending channel. At the time of publication of the forecast, the US Dollar rate against the Swiss Franc is 0.9923. At the moment, we should expect a test of the resistance area near the level of 0.9955 and the continuation of the fall of the US Dollar against the Swiss Franc with a target below 0.9835.
USD/CHF forecast & technical analysis July 31, 2018
In favor of the growth of the Dollar Franc pair will test the trend line on the indicator of relative strength index (RSI). Canceling the fall of the USD/CHF pair on Forex will be a strong growth and breakdown of the area 0.9990, which will indicate the breakdown of the upper border of the channel and the continuation of the USD/CHF quotations growth to the area above the level of 1.0050. Expect the acceleration of USD/CHF quotations falling with the breakdown of the support area and the closing below the level of 0.9890.
USD/CHF forecast & technical analysis July 31, 2018 suggests a test of the resistance area near the level of 0.9955 and the continuation of the fall of the pair USD/CHF with a target below 0.9835, an additional signal in favor of the fall of the Dollar/Franc pair will test the trend line on the indicator of relative strength index (RSI), the cancellation of the fall option will be a strong growth and breakdown of the area of 0.9990, which indicates the breakdown of the upper border of the channel and the continued growth of the pair.
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Hi,
Great analysis, Keep up the good work sir. Your analysis are very useful to many retail traders like me.
I just want to clear one doubt, do you think #eurusd and #usdchf both will fall?
Thanks
Hi!
Thanks for the comment
If the pairs moved in the same way, then the EUR/CHF chart would be horizontal, but it is not. Therefore, at some point they can move in different directions.