USD/CHF forecast

   The pair had performed a correction to key support 1.1580. For the reason that the side trend at daily graph is in a form of the “flag” trend-continuing figure, we can’t clearly state whether the pair is in a downtrend or an uptrend. So we’re going for 2 variants.

 

   1. If the pair drops below level 1.1550, the descending intention will be amplified and so we should expect dropping to support 1.1420 – the “flag” figure’s lower bound.

 

   2. If only the pair stays above 1.1580 and then gets over level 1.1665, an uptrend will take effect, having the target of growth at resistance level 1.1810

 

 

   The pair is being traded along a side trend that is in fact a “flag” trend-continuing figure, which has its higher bound at 1.1810. If the pair drops below level 1.1550, the descending impulse will be amplified. If after that the pair will go under 1.1370, the “flag” figure will be executed and a confident downtrend will start, having the target of dropping at level 1.1035.