USDCHF Weekly Forecast Oct 20 2014

The USDCHF declined last week , printed support at the 0.9360 levels , let’s take a quick look first at the most important news which may influence USDCHF pair this week :

Tuesday , Oct 21 2014

  • US will release its report on Existing Home Sales.

Wednesday , Oct 22 2014

  • US will release its data on Core CPI (MoM) (Sep) .

Thursday , Oct 23 2014

Friday , Oct 24 2014

Events will be discussed during the week …..

Technical Outlook :

Outlook in USDCHF has turned neutral with risk to the upside , support comes at the 0.9360 levels , a failure to hold below the 0.9360 levels on a weekly closing basis , could mean a return to the 0.9575 levels ahead of the 0.9685 levels , break of the 0.9685 levels would open 0.9750 next , further upside will aim the 0.9840 levels.

On the downside , support comes at the 0.9360 levels , losing this level on a weekly closing basis , will bring a corrective pullback above the 0.9150/0.9000 levels .

In all , as long as support 0.9360 holds on a weekly closing basis , outlook in USDCHF remains on the upside towards the 0.9575 levels ahead of the 0.9685, below 0.9360 faces a pullback risk …

USDCHF Weekly Forecast Oct 20 2014

Conclusion : Oversold zone is below 0.9360 levels , so any positive news for USDCHF around /below 0.9360 is likely to bring strong rebound .

MARKET DATA

UPCOMING ECONOMIC EVENTS