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Weekly forecast US Dollar / Swiss Franc technical chart
Symbol USDCHF

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9980 to 1.0065). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.9980)
    • Resistance on 10/27/2017
    • Resistance on 10/30/2017
    • Resistance on 10/31/2017
    • Support on 11/02/2017
    • Support on 11/03/2017
    • Support on 11/08/2017
    • Resistance on 12/08/2017
    • Resistance on 05/02/2018
    • Resistance on 05/03/2018
    • Support on 05/11/2018
    • Support on 05/14/2018
    • Support on 05/15/2018
    • Support on 05/16/2018
    • Support on 05/17/2018
    • Resistance on 05/22/2018
    • Resistance on 05/23/2018
    • Resistance on 05/29/2018
    • Resistance on 06/14/2018
    • Resistance on 06/15/2018
    • Resistance on 06/18/2018
    • Resistance on 06/19/2018
    • Resistance on 06/20/2018
    • Resistance on 06/21/2018
    • Resistance on 06/27/2018
    • Resistance on 06/28/2018
    • Resistance on 06/29/2018
  • Ending of entry zone (1.0065)
    • Resistance on 07/13/2018

DateJuly 28, 2018 - 20:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.01000, beginning of downtrend is expected.
  • We make sure when the support at 0.98600 breaks.
  • If the resistance at 1.01000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.0055 on 2018-05-10 and the peak at 1.0065 on 2018-07-13, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.0070 on 07/13/2018, so more losses minimum to Major Support (0.9860) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 0.9860
  2. 0.9815
  3. 0.9735
  4. 0.9660
  5. 0.9520
  6. 0.9440
  7. 0.9355
  8. 0.9185
  9. 0.9070
  10. 0.8890
  11. 0.8700
  12. 0.8280
  13. 0.7710
  14. 0.7065
Click on the level to view price action history.

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