Overview:
USD/CHF:
It is necessary to consider that the price is still located between the points 0.913 and 0.9, i.e. above the strong support level 0.893 (00% of Fibonacci retracement levels on H4 chart). These levels correspond to 38.2% and 23.8% of Fibonacci retracement levels on the H4 chart. The pair has already formed a strong resistance at this level of 0.9133 and it is now approaching it for further testing. Therefore, the swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below 0.916 level. Sell-deals are recommended below 0.9133 with the first target seen at 0.9025 level. Thus, downtrend is likely to begin continuing the bearish movement towards the 0.90 level. Furthermore, it is also important that the price has probably formed a strong support at 0.894 (0.893: 00% of Fibonacci retracement levels on H4 chart). The saturation is like to take place around 0.8935. Therefore, it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.8935 with the first target seen at the 0.903 level and futher at the 0.91 level.
Forecast:
At 0.894 a strong level will be formed, providing a clear signal for Buy-deals with the target seen at 0.913 level. Stop Loss is to be placed below 0.88.
