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Old 10-25-2016, 08:54 AM   Nav to Top 
Superforex
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Technical analysis of the currency pair USD / CHF on 25/10/2016. The daily chart


General analysis
Last week the price of the currency pair USD / CHF has risen slightly more than 100 points and came close to the support level at 0.9950.

If we consider US dollar in a global market we can note that price for this currency increases in relation to all the main quotes but nevertheless now we see a pause in the growth and soon we expect a correction against the general uptrend.

Recently the price has already approached several times to the level of support at 0.9950 and both times it was an insurmountable wall for the currency pair and the price could not break it.

Comparing the Stochastic indicator chart with price graph we can see a clear divergence which was formed last Friday. Such trading signal on the daily chart and with and rising market it is quite strong signal to sell the US dollar and it cannot be ignored.

Next few days

Considering the overall situation in the market for the US dollar, price closeness to a significant support level 0.9950 and the presence of divergence in the graph we have all the signals for the opening of sales for USD / CHF.
The general trend is still increasing but today there is the most favorable situation to play on the rollback of the price.

During this week, we are likely to see a decrease to at least 0.9850 or even further to 0.9780.

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