Currency pair US Dollar to Swiss Franc USD/CHF ends the trading week near the level of 0.8848. The pair is trading above the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bullish trend for the Dollar Franc pair. In the current trading week, a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 0.8825. Where can we expect an attempt to rebound upward and further rise the pair with a potential target near the level of 0.9195.
Dollar Franc Forecast March 4 — 8, 2024
An additional signal in favor of growth of the USD/CHF pair in the current trading week will be a test of the support level on the USD/CHF price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, a weak signal was received to buy the Dollar Franc pair. The signal was formed due to the intersection of signal lines at the level of 0.8565.
Cancellation of the option to increase the pair’s quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 0.8535. This will indicate a change in the bullish trend in favor of a bearish trend and a continuation of the fall. Expect acceleration of USD/CHF growth with the breakdown of the resistance area and closing of quotes above the level of 0.8945.
Dollar Franc Forecast March 4 — 8, 2024 assumes an attempt to develop a correction to the level of 0.8825. Where can we expect a rebound downwards and continued growth of the pair with a potential target near the level of 0.9195. A test of the support level on the price chart will support the rise. Cancellation of the growth option for the currency pair will be a fall and a breakdown of the 0.8535 area. In this case, we should expect the pair to continue to decline with a target below the level of 0.8275.
