[FOREX TIP] USDCHF Weekly Forex Forecast – 7th to 11th May 2018

USDCHF Weekly Forex Forecast – 7th to 11th May 2018

Technical Outlook: The USDCHF currency pair maintained the gains last week. However, the steep rally saw the trend line being breached. Price action in the USDCHF suggested that with a downside retest of the trend line, we expect a near term decline. If the trend line holds out as resistance, then the USDCHF currency pair could be seen posting a correction toward the 0.9894 level of support. With both the major trend line and the horizontal support coinciding at 0.9894, we expect that this support level could hold in the near term. A break down below this level will however signal a move toward 0.9821.

Fundamental Outlook: Economic data from Switzerland will be limited this week only to the unemployment rate and the monthly inflation figures. Consumer prices have remained broadly stable over the past few months and it is the same with the unemployment rate as well. Data from the United States will dominate the headlines however. The monthly producer prices and consumer price index data will be coming out over the week followed by the University of Michigan’s inflation expectations and consumer sentiment reports.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 7th to 11th May 2018

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