First, a review of the forecast for the past week:
There was no clarity about USD/CHF. One of the scenarios was a fall to support around 0.9765. The pair did go down but stalled at 0.9800 without hitting the said bottom level.
Forecast for the coming week.
Summing up the opinions of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
All indicators on H4 show a fall for USD/CHF but on larger timeframes (D1 and W1) two-thirds of the indicators already point upward. As for the analysts, 30% reckon that USD/CHF hasn’t yet reached the bottom of 0.9650-0.9675. At the same time, 87% of the analysts agree that in the longer term, the pair should return to values above 1.0000. Thus, graphical analysis on D1 gives the pair two weeks to make it to 1.0250, with adjustments for the holiday season.
All forecasts may be subject to change as important economic data are released in the middle of the coming week.
Roman Butko, NordFX
There was no clarity about USD/CHF. One of the scenarios was a fall to support around 0.9765. The pair did go down but stalled at 0.9800 without hitting the said bottom level.
Forecast for the coming week.
Summing up the opinions of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
All indicators on H4 show a fall for USD/CHF but on larger timeframes (D1 and W1) two-thirds of the indicators already point upward. As for the analysts, 30% reckon that USD/CHF hasn’t yet reached the bottom of 0.9650-0.9675. At the same time, 87% of the analysts agree that in the longer term, the pair should return to values above 1.0000. Thus, graphical analysis on D1 gives the pair two weeks to make it to 1.0250, with adjustments for the holiday season.
All forecasts may be subject to change as important economic data are released in the middle of the coming week.
Roman Butko, NordFX