Forex Forecast for 19-23 October 2015

FX:USDCHF   U.S. Dollar / Swiss Franc
First, a review of the previous week:
The bulls’ timid attempts to push USD/CHF             upwards were unsuccessful, and on Thursday, the pair reached the low around 0.9500, as predicted by the experts, and stayed there until the end of the week.

Forecast for the coming week. Summarizing the views of several dozen analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, the following can be said:
There are two possible scenarios for USD/CHF             . First – the pair will bounce off the upper boundary of the two-week descending channel , reach its bottom boundary 0.9400-0.9420 and rise sharply, breaking through the channel and reaching resistance at 0.9580-0.9600. The indicators, graphical analysis on H4 and D1 and 45% of the experts support this forecast. According to the second scenario, the pair will go upwards as of Monday, breaking through the upper boundary of the channel. This is voted for by 55% of the analysts along with the indicators and graphical analysis on H1. At the same time, one third of the experts believe that the pair will not stop at 0.9600 but will go 100 points higher.

Roman Butko, NordFX

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