The prediction for USD/CHF was 100% correct in regards to the trend direction. The pair was supposed to rise to 1.0700 at the start of the week and then return to the 0.9850 . However, developments on stock markets sharply increased the pair’s , and, as a result, it was able to get up to 1.0123 and then went down to support at 0.9923.
Forecast for the coming week.
Summarizing the views of several dozen analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be put forward:
The scenario of the second half of December may replay for USD/CHF . At least, it’s echoed by the analysts as well as the indicators and graphical analysis on D1. According to this forecast, the pair will be fluctuating within a wide range from 0.9800 to 1.0100. In the short run, graphical analysis on H4 expects the pair to rebound from support at 0.9920 and move to resistance at 1.0015, after which the pair should go down again, bounce off the said and try to break through resistance in an effort to reach 1.0050.
Roman Butko, NordFX