USDCHF Weekly Forecast Oct 27 2014

The USDCHF consolidated above the key support 0.9360 last week , outlook unchanged but , let’s take a quick look  at the most important news which may influence USDCHF pair this week :

Monday , Oct 27 2014

  • US will release its report on Pending Home Sales (MoM).

Tuesday , Oct 28 2014

  • US will release its data on Core Durable Goods Orders (MoM) (Sep)  , later on the day , US will release another data on CB Consumer Confidence (Oct).

Wednesday , Oct 29 2014

  • From U.S , we have Fed Interest Rate Decision  .

Thursday , Oct 30 2014

  • From Switzerland , we have KOF Leading Indicators (Oct).
  • US will release its weekly report on Initial Jobless Claims , at the same time we have the high importance US GDP (Q/Q) (Q3).

Events will be discussed during the week …..

Technical Outlook :

Outlook in USDCHF remains 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 27 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