Recently the US Dollar reached historical low levels against the Swiss Franc. However, after flirting with the low level below the 0.9450 mark the currency exchange rate has rebounded. The historical low levels where consistent with the massive scale descending channel pattern's lower trend line, which is a clear signal for a long term surge.
The rebound is occurring in a recently mapped ascending channel pattern, which is a medium scale representation of a larger move. The larger move is a descending pattern, which is almost parallel to the most dominant pattern. Meanwhile, its trend lines are consistent with the Fibonacci retracement levels of the recent year low and high levels.
In regards to the short term, the pair is most likely going to decline to the 23.60% Fibo at the 0.9650 mark and afterwards once more approach the 0.9715 mark, where the weekly R1 is located at.
The rebound is occurring in a recently mapped ascending channel pattern, which is a medium scale representation of a larger move. The larger move is a descending pattern, which is almost parallel to the most dominant pattern. Meanwhile, its trend lines are consistent with the Fibonacci retracement levels of the recent year low and high levels.
In regards to the short term, the pair is most likely going to decline to the 23.60% Fibo at the 0.9650 mark and afterwards once more approach the 0.9715 mark, where the weekly R1 is located at.
Trade closed: target reached:
The US Dollar has reached a significant cross point against the Swiss Franc. The pair recently began a junior surge after rebounding against the support of the lower trend line of the most dominant channel pattern.
The junior pattern recently met with the resistance of two dominant patterns. The resistance of the medium scale patterns did not hold and the pair broke above their resistance only to be stopped by the 38.20% Fibonacci retracement level of 2017 low and 2016 high levels.
This move can be considered a confirmation of the hypothesis that the US Dollar is set to gain against the Franc in the upcoming months.
The US Dollar has reached a significant cross point against the Swiss Franc. The pair recently began a junior surge after rebounding against the support of the lower trend line of the most dominant channel pattern.
The junior pattern recently met with the resistance of two dominant patterns. The resistance of the medium scale patterns did not hold and the pair broke above their resistance only to be stopped by the 38.20% Fibonacci retracement level of 2017 low and 2016 high levels.
This move can be considered a confirmation of the hypothesis that the US Dollar is set to gain against the Franc in the upcoming months.
Comment:
Another review of the highly demanded USD/CHF pair has been conducted. After rebounding form the massive scale support level, of the most dominant channel down pattern, the pair has formed a long term ascending wedge pattern.
One comment that has to be noted is that the wedge’s upper trend line is in particular strong, as there have been many confirmations.
Most recently on a much smaller scale the pair has formed an ascending channel pattern, which represents the latest rebound in the borders of the wedge.
However, it is unlikely going to guide the rate to the upper trend line of the wedge. The channel is too narrow, compared to the historical volatility of the rate. Due to that reason a formation of a medium pattern is to be expected.
Another review of the highly demanded USD/CHF pair has been conducted. After rebounding form the massive scale support level, of the most dominant channel down pattern, the pair has formed a long term ascending wedge pattern.
One comment that has to be noted is that the wedge’s upper trend line is in particular strong, as there have been many confirmations.
Most recently on a much smaller scale the pair has formed an ascending channel pattern, which represents the latest rebound in the borders of the wedge.
However, it is unlikely going to guide the rate to the upper trend line of the wedge. The channel is too narrow, compared to the historical volatility of the rate. Due to that reason a formation of a medium pattern is to be expected.
Comment:
The previous review of the US Dollar against the Swiss Franc stated that the pair will reach the monthly resistance at the 0.9830 mark and a new ascending pattern will reveal itself. Both of these predictions have become true and the currency exchange rate has reached the upper trend line of the dominant rising wedge pattern.
Due to that reason a medium term bounce off is expected. However, due to the angle of the upper trend line of the rising wedge, the new medium term pattern might have any possible angle. It could be a descending, a horizontal or even an ascending pattern.
The previous review of the US Dollar against the Swiss Franc stated that the pair will reach the monthly resistance at the 0.9830 mark and a new ascending pattern will reveal itself. Both of these predictions have become true and the currency exchange rate has reached the upper trend line of the dominant rising wedge pattern.
Due to that reason a medium term bounce off is expected. However, due to the angle of the upper trend line of the rising wedge, the new medium term pattern might have any possible angle. It could be a descending, a horizontal or even an ascending pattern.
Comment:
The US Dollar recently revealed a dominant pattern against the Swiss Franc. As the US GDP data sets were released the currency exchange rate broke the previously dominant rising wedge pattern. However, the lower trend line of the wedge is the same as in the dominant ascending channel.
Meanwhile, the currency pair is surging in a medium term channel up pattern. Although, the channel has already hit the upper trend line of the dominant pattern, which indicates that a medium term decline might take place soon. In that case the pair should decline down to the support cluster below the 0.99 mark.
However, the pair might find strong enough support in the cluster near the 0.9950 mark.
The US Dollar recently revealed a dominant pattern against the Swiss Franc. As the US GDP data sets were released the currency exchange rate broke the previously dominant rising wedge pattern. However, the lower trend line of the wedge is the same as in the dominant ascending channel.
Meanwhile, the currency pair is surging in a medium term channel up pattern. Although, the channel has already hit the upper trend line of the dominant pattern, which indicates that a medium term decline might take place soon. In that case the pair should decline down to the support cluster below the 0.99 mark.
However, the pair might find strong enough support in the cluster near the 0.9950 mark.
Comment:
The previous review of the US Dollar against the Swiss Franc stressed that the new medium term pattern, which was about to reveal itself, might also have an ascending angle. That turned out to be true, as the pattern has been revealed.
The currency exchange rate is set to continue the surge in the medium term channel up pattern until it reaches the support of the dominant pattern. The dominant pattern is an ascending wedge.
The wedge’s support is set to meet the currency exchange rate in the second half of November above the 1.00 mark.
The previous review of the US Dollar against the Swiss Franc stressed that the new medium term pattern, which was about to reveal itself, might also have an ascending angle. That turned out to be true, as the pattern has been revealed.
The currency exchange rate is set to continue the surge in the medium term channel up pattern until it reaches the support of the dominant pattern. The dominant pattern is an ascending wedge.
The wedge’s support is set to meet the currency exchange rate in the second half of November above the 1.00 mark.
Comment:
Recent development s on the USD/CHF currency exchange rate’s charts have pressured for an update of the situation. The main reason for the update is the fact that the previously drawn channel up pattern has been broken.
In general the reason for the breaking of the pattern was the fact that there actually exists a medium scale channel down pattern. The ascending channel was just a representation of the junior surge in the borders of the recently discovered pattern.
In regards to the short term, the pair is set to meet with the support of a dominant channel up pattern near the 0.9930 mark. A rebound is to be expected.
Recent development s on the USD/CHF currency exchange rate’s charts have pressured for an update of the situation. The main reason for the update is the fact that the previously drawn channel up pattern has been broken.
In general the reason for the breaking of the pattern was the fact that there actually exists a medium scale channel down pattern. The ascending channel was just a representation of the junior surge in the borders of the recently discovered pattern.
In regards to the short term, the pair is set to meet with the support of a dominant channel up pattern near the 0.9930 mark. A rebound is to be expected.
Comment:
The US Dollar has broken the lower trend line of the previously active long term channel up pattern against the Swiss Franc. As a result of the move a massive channel up pattern has been marked.
Meanwhile, the most attention is given to the newly formed long term channel down pattern. Most recently the currency pair confirmed its lower trend line by doing a rebound against it.
Due to that reason a medium scale channel up pattern is expected to form in the near future. Although, the pair is first set to face various resistance levels near the 0.9850 mark.
The US Dollar has broken the lower trend line of the previously active long term channel up pattern against the Swiss Franc. As a result of the move a massive channel up pattern has been marked.
Meanwhile, the most attention is given to the newly formed long term channel down pattern. Most recently the currency pair confirmed its lower trend line by doing a rebound against it.
Due to that reason a medium scale channel up pattern is expected to form in the near future. Although, the pair is first set to face various resistance levels near the 0.9850 mark.
Comment:
It can be expected that the pair will remain rather neutral. That is due to the fact that it should reach the lower trend line of the speculated pattern, but it faces a strong support level near the 0.99 mark.
After the trend line would be confirmed, the currency pair would begin a surge.
It can be expected that the pair will remain rather neutral. That is due to the fact that it should reach the lower trend line of the speculated pattern, but it faces a strong support level near the 0.99 mark.
After the trend line would be confirmed, the currency pair would begin a surge.
Comment:
The situation on the USD/CHF got chaotic due to fundamental changes in the US economy taking place throughout the week. Namely, the Trump’s tax reform is set to be on his table for signing very soon.
Due to that reason all patterns, but the most dominant pattern shown on the chart above ,have been broken or become obsolete. Instead a review has been done to map the situation.
In general, the pair is in two junior patterns of various scale in the borders of the mentioned unchanged dominant pattern.
In the near future the pair is set to go lower to the trend line of the dominant pattern.
The situation on the USD/CHF got chaotic due to fundamental changes in the US economy taking place throughout the week. Namely, the Trump’s tax reform is set to be on his table for signing very soon.
Due to that reason all patterns, but the most dominant pattern shown on the chart above ,have been broken or become obsolete. Instead a review has been done to map the situation.
In general, the pair is in two junior patterns of various scale in the borders of the mentioned unchanged dominant pattern.
In the near future the pair is set to go lower to the trend line of the dominant pattern.
Comment:
The recent fall of the US Dollar has caused the USD/CHF currency exchange rate to break two patterns.
Meanwhile, it has to be noted that there is only one thing clear about the fall of the US Dollar. It was consistent in timing with the Donald Trumps signing of the new US Tax Bill. Most likely this decline is due to the anticipated large movements in currencies, as the various US companies are set to repatriate money from abroad. That means that there will be much more US Dollars in active circulation.
Meanwhile, in regards to the USD/CHF ignore the smaller patterns, as large changes are occurring.
The recent fall of the US Dollar has caused the USD/CHF currency exchange rate to break two patterns.
Meanwhile, it has to be noted that there is only one thing clear about the fall of the US Dollar. It was consistent in timing with the Donald Trumps signing of the new US Tax Bill. Most likely this decline is due to the anticipated large movements in currencies, as the various US companies are set to repatriate money from abroad. That means that there will be much more US Dollars in active circulation.
Meanwhile, in regards to the USD/CHF ignore the smaller patterns, as large changes are occurring.
Comment:
The previous time the USD/CHF currency pair was reviewed, the main attention was given to the fact that the pair had broken various patterns.
Meanwhile, it was noted that the pair will set out to reach for the lower trend line of the last still active pattern. The pattern has the form of a channel down pattern, and, as it can be seen on the chart, the patterns lower trend line was confirmed.
The result of this move is an initial rebound, which is set to face various support levels. Most likely during the pair’s upward movement one of these resistance levels will force the rate to pause and consolidate. That movement will reveal the new ascending medium term pattern.
The previous time the USD/CHF currency pair was reviewed, the main attention was given to the fact that the pair had broken various patterns.
Meanwhile, it was noted that the pair will set out to reach for the lower trend line of the last still active pattern. The pattern has the form of a channel down pattern, and, as it can be seen on the chart, the patterns lower trend line was confirmed.
The result of this move is an initial rebound, which is set to face various support levels. Most likely during the pair’s upward movement one of these resistance levels will force the rate to pause and consolidate. That movement will reveal the new ascending medium term pattern.
Comment:
The US Dollar stopped the previously mapped short term surge against the Swiss Franc.
The reason was the recent decline of the US Dollar against the rest of the markets. The depreciation of the Buck was caused by the release of the lower than expected US Producers Price Index.
As a result of the decline the currency pair has declined down to the 0.97 level. At that level on Friday the fall of the Greenback against the Franc paused. The support might have been provided by a speculated horizontal channel pattern.
If the pattern’s support holds, the pair should begin a short term ascending channel.
The US Dollar stopped the previously mapped short term surge against the Swiss Franc.
The reason was the recent decline of the US Dollar against the rest of the markets. The depreciation of the Buck was caused by the release of the lower than expected US Producers Price Index.
As a result of the decline the currency pair has declined down to the 0.97 level. At that level on Friday the fall of the Greenback against the Franc paused. The support might have been provided by a speculated horizontal channel pattern.
If the pattern’s support holds, the pair should begin a short term ascending channel.
Comment:
As the US Dollar extended its losses against the rest of the currency pairs, the USD/CHF pair was no exception. Moreover, previously drawn patterns have been broken. Due to that reason a full review of the currency exchange rate has been conducted.
First of all the most dominant channel’s support has been moved lower. Secondly a medium term pattern has been mapped. In addition, the already broken junior pattern can be observed on the chart.
Regarding the short term future, he pair is set to continue the rebound, which began against the combined support of the dominant and medium sized patterns.
As the US Dollar extended its losses against the rest of the currency pairs, the USD/CHF pair was no exception. Moreover, previously drawn patterns have been broken. Due to that reason a full review of the currency exchange rate has been conducted.
First of all the most dominant channel’s support has been moved lower. Secondly a medium term pattern has been mapped. In addition, the already broken junior pattern can be observed on the chart.
Regarding the short term future, he pair is set to continue the rebound, which began against the combined support of the dominant and medium sized patterns.
The US Dollar has recently suffered losses against the Swiss Franc, as the junior channel up pattern has been broken on the four hour chart. However, a more dominant ascending pattern remains in force.
In regards to the short term the pair is set to continue the decline, as it recently passed a few support levels above the 0.9750 mark. The next notable support level is located at the 0.9720 mark, where the 100-period SMA is located at.
Meanwhile, in the medium term the pair is set to reveal a medium term descending pattern, which should guide the rate down to the lower trend line of the dominant ascending pattern.