There was no consensus about USD/CHF . The forecast by graphical analysis on H1 turned out to be more or less correct with some approximation – a rise to 1.01125 (the pair went up to 1.00825) and then a return to 1.0020 (the pair stopped at 1.0000). As for larger timeframes, graphical analysis on D1 had forecast quite a fast rise to 1.02500, and, in fact, USD/CHF went up sharply reaching 1.0165 by the end of the week.
Forecast for Upcoming Week
Generalizing the opinions of scores of 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:
Last week, graphical analysis predicted USD/CHF would soar to 1.02500. This sentiment stands for this week too but with a corrected target of 1.0210, at which the pair should reverse and go back to the at 1.0080. The indicators on H4 and D1 and 70% of the experts agree with this view. The analysts set 1.0300 as the pair’s final longer-term target, followed by a drop to 0.9800, which may take 2-3 weeks.
Roman Butko, NordFX