USDCHF Weekly Forecast Aug 04 2014

Outlook in USDCHF remains on the upside as long as support  0.8970 holds on a weekly closing basis , resistance comes at   the 0.9145  levels , a halt is likely , but a break would open 0.9270 next , further upside will aim the 0.9400 levels.

On the downside , support comes at the 0.9034 levels ahead of 0.8970 ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 0.8970  levels on a weekly closing basis will reverse risks towards the 0.8855/0.8900 levels , before the next possible rise.

In all , as long as support 0.8970  holds on a weekly closing basis , outlook in USDCHF remains on the upside towards the  0.9145  levels ahead of the 0.9270  levels .Below  0.8970  will reverse risks towards the 0.8855/0.8900  levels before the next strong rise….

Note that sustained trading – weekly closing – below the 0.9034 levels will turn outlook neutral and build strong pressure on the 0.8970/0.8855 levels…….so , stability above the 0.9034 levels will keep the pair very bullish…………


USDCHF Weekly Forecast Aug 04 2014