JuliaFX

Forex Forecast for 23-27 November 2015

FX:USDCHF   U.S. Dollar / Swiss Franc
First, a review of last week’s forecast.
The USD/CHF pair was ahead of schedule. It was expected to stay in the range of 0.9900-1.0100 for some time, then get fixed around 1.0120-1.0130 and only from there start assailing 1.0210. All this transpired but much quicker: already on Tuesday, USD/CHF broke through resistance not only at 1.0100 but also 1.0130, and by Wednesday, it reached the set peak of 1.0210, after which the pair entered a sideways trend.

Forecast for the upcoming week.
Summing up the opinions of several dozen 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 suggested:
The forecast for USD/CHF is a small pullback down to support at 1.0135 initially and then a surge to a new peak. The target is 1.0250. At the same time, the analysts believe that the pair will remain in a 1.0200-1.0220 corridor most of the time whereas just one (!) analyst suggests that the pair may fall to 0.9800.

Roman Butko, NordFX

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