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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 17, 2019 - 22:10
Currentrange bound
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 0.99500, continuation of downtrend is expected.
  • We make sure when the support at 0.97100 breaks.
  • If the resistance at 0.99500 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.96935 on 2019-06-25 and the trough at 0.9659 on 2019-08-13, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.9660 on 08/13/2019, so more gains to resistance(s) 0.9815 and maximum to Major Resistance (0.9950) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Supports and Resistances:

  1. 1.0325
  2. 1.0235
  3. 1.0150
  4. 1.0095
  5. 1.0015
  6. 0.9950
  7. 0.9815
  8. 0.9710
  9. 0.9540
  10. 0.9185
  11. 0.8700
Click on the level to view price action history.

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