Two weeks ago, the immediate target for USD/CHF was a rise to 1.0250. Last week, graphical analysis lowered it to 1.0210, which it shouldn’t have done as the pair easily reached 1.0255 on Friday, countering the rush to change forecasts.
Forecast for Coming Week
Summing up the views of scores of analysts from world leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be said:
Most experts and graphical analysis on H4 believe that USD/CHF will be moving in a 1.0200-1.0310 sideways channel for some time. However, graphical analysis on D1 insists that the pair should go down to support at 0.9920 and then enter a sideways corridor of 0.9920-1.0080. In the longer term, 40% of the analysts believe that 1.0310 is not the limit and the pair may rise to 1.0500.
Roman Butko, NordFX