USDCHF Weekly Forex Forecast – 28th Nov to 2nd Dec 2016

USDCHF Weekly Forex Forecast - 28th Nov to 2nd Dec 2016
Previous USDCHF Weely Forex Forecast Technical Outlook: USDCHF has triggered a bearish signal with the doji and Friday's lower close. Still, price was rejected near the support at 1.0128 meaning that price could consolidate above this level. Short positions are recommended only below 1.0128 for a target to 0.9934. In the event that price continues to push higher, USDCHF will target 1.02940, the late November 2015 highs. It is best to wait on the sidelines for USDCHF to break below 1.0128 and retest this level for resistance as an additional confirmation for the downside correction. Fundamental Outlook: Data from Switzerland this week will see the retail sales figures which is expected to post a 2.0% decline following the 2.3% decline the month before. Manufacturing PMI is expected to show a soft pace of growth falling to 54.5 from 54.7 the month before. Finally, on Friday the quarterly GDP report will be released which is expected to show a 0.3% quarterly growth, down from 0.6% previously.

USDCHF Weekly Forex Forecast - 28th Nov to 2nd Dec 2016 - BEARISH


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