An upward movement is likely to continue.

On the 4-hour chart, the USD/CHF pair continues growing towards 0.9840 (a crossover with the 100.0% arc) and 0.9890 (100.0% correction for the short-term trend). A similar picture is on the daily chart, where the price broke out the level of 0.9700 (23.6% correction) and is growing along the 23.6% arc towards 0.9880 (0.0% correction for the medium-term trend). Thus, in the nearest future, the pair may gain back all its August losses. A new downward movement would start only if the price returns and breaks down the level of 0.9700. In this case, the target levels would be 0.9665 (61.8% correction for the short-term trend) and 0.9595 (50.0% correction for the short-term trend).

Trading tips

Buy the pair above the level of 0.9790 with targets at 0.9840, 0.9890 and stop-loss at 0.9730.

Alternative scenario

Short positions can be opened if the price consolidates below the level of 0.9700 with targets at 0.9665, 0.9595 and stop-loss at 0.9750.

USD/CHF: Fibonacci analysis

USD/CHF: Fibonacci analysis




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



Follow us in social networks!
Live Chat
Leave feedback