Overview:
USD/CHF:
It is necessary to consider that the price is still located between the points 0.9300 and 0.8950, i.e. above the strong support level 0.8931 (00% of Fibonacci retracement levels on H4 chart). These levels correspond to 38.2% and 23.6% of Fibonacci retracement levels on the H4 chart. The pair has already formed a strong resistance at this level of 0.916 and it is now approaching it for further testing. Therefore, the swissie is expected to go downwards following the non-corrective structure and indicvating the bearish opportunity below 0.916 level. Sell-deals are recommended below 0.916 with the first target seen at 0.9025 level. Thus, downtrend is likely to begin continuing the bearish movement towards the 0.8955 level. Furthermore, it is also important that the price has probably formed a strong support at 0.8940 (0.8931: 38.2% of Fibonacci retracement levels on H4 chart). The saturation is lik;ey to take place around 0.8940. Therefore, it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.8940 with the first target seen at the 0.9000 level and futher at the 0.9110 level.
Forecast:
At 0.916 a strong level will be formed, providing a clear signal for Sell-deals with the target seen at 0.8955 level. Stop Loss is to be placed above 0.9185.
