ForecastCity
Long

There is a possibility for the beginning of an uptrend in USDCHF

FX:USDCHF   U.S. Dollar / Swiss Franc
Midterm forecast:
While the price is above the support 0.9180, beginning of uptrend is expected.
We make sure when the resistance at 0.9900 breaks.
If the support at 0.9180 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
A peak is formed in daily chart at 0.9783 on 05/07/2020, so more losses to support(s) 0.9625, 0.9500, 0.9360 and minimum to Major Support (0.9180) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 52.

Supports and Resistances
S1: 0.9625
S2: 0.9500
S3: 0.9360
S4: 0.9255
S5: 0.9180
R1: 0.9785
R2: 0.9900
R3: 1.0025
R4: 1.0115
R5: 1.0235
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Comments

Hope for the best
+3 Reply
ForecastCity Ramakantacharchi
+1 Reply
Awesome analysis 👏🏿
+3 Reply
ForecastCity chrismann
@chrismann, Thanks for your comment
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chrismann ForecastCity
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chrismann chrismann
🙏
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thanks for your ideas
+3 Reply
ForecastCity Kristalyn
@Kristalyn, 👍
+1 Reply
thank you very much for your analysis!
+3 Reply
@Kamryn, 🙏
Reply
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