USDCHF Weekly Forex Forecast 30 September to 6th October
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.9700 would begin in Midterm.
Technical analysis:
The RSI bounced from the support #1 at 26 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 0.9540 on 09/21/2018, so more gains to resistance(s) 0.9815, 0.9865, 0.9985 and more heights 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 59.
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.9700 would begin in Midterm.
Technical analysis:
The RSI bounced from the support #1 at 26 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 0.9540 on 09/21/2018, so more gains to resistance(s) 0.9815, 0.9865, 0.9985 and more heights 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 59.
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