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USDCHF Weekly Forex Forecast – 26th to 30th Dec 2016 

 December 24, 2016

By  Advanced Strategies

USDCHF Weekly Forex Forecast – 26th to 30th Dec 2016

Technical Outlook: USDCHF has maintained gains above 1.0227 but the question remains for how long. The Stochastics has posted a bearish divergence on a lower high against the higher high in prices. This signals a sharp downside risk towards 0.9934 that could be triggered if USDCHF breaks down below the initial support at 1.0227. With the week ahead relatively quiet, USDCHF could possible turn flat near the current levels before moving one way or another. The overall bias is to the downside towards 0.9934 support however.

Fundamental Outlook: There is not much of economic releases to go by from Switzerland this week. The markets are closed on Monday and the remainder of the week will see USDCHF influenced by some data from the U.S. although there is nothing major that could move the markets. Second tier data includes the Richmond Fed manufacturing index on Tuesday followed by the weekly unemployment claims. However none of these data sets are likely to be any big catalyst for this week as traders take a break into the end of the year.

Previous USDCHF Weely Forex Forecast

 

USDCHF Weekly Forex Forecast – 26th to 30th Dec 2016 – Bearish


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