Currency pair USD/CHF US Dollar to Swiss Franc is trading at 0.9959 and continues to move as part of the correction. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend for the Dollar Franc pair. As part of the USD/CHF forecast Dollar Franc October 24, 2018, the test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.9915, from which we can expect an attempt to rebound and continue the growth of the pair with a potential target near the level of 1.0075.
USD/CHF forecast Dollar Franc October 24, 2018
An additional signal in favor of the growth of the pair USD/CHF will be the test of the support area, as well as a rebound from the lower boundary of the upward channel. Earlier, a signal of average strength was received for BUY of the Dollar/Franc pair, due to the intersection of signal lines at the level of 0.9910.
Cancellation of the growth of quotations of the pair USD/CHF will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 0.9870 area, which will indicate a change in the upward trend in favor of the downward trend and the continuation of the pair’s decline. Expect acceleration of growth of the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 0.9995.
USD/CHF forecast Dollar Franc October 24, 2018 suggests an attempt to test the support level near 0.9915, from which one can expect continued growth of the currency pair with a potential target near 1.0075, the cancellation of the growth option of the pair will break down the area of 0.9870, which will indicate continued decline.