Currency pair US Dollar to Swiss Franc USD/CHF completes the trading week near the level of 0.9652. The pair is trading inside the Cloud of the Ichimoku Kinko Hyo indicator. This indicates the presence of a sideways trend in the Dollar Franc pair. In the current trading week, a test of the lower border of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 0.9555 is expected. Where should we expect an attempt to bounce up and further growth of the pair with a potential target near the level of 1.0065.
Dollar Franc Prediction September 12 — 16, 2022
An additional signal in favor of the 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 boundary of the Head and Shoulders reversal pattern. Earlier, a weak signal was received for buying the Dollar Franc pair. The signal was formed due to the crossing of the signal lines at the level of 0.9545.
Cancellation of the growth option for 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 0.9485 area. This will indicate a change in the side trend in favor of a downtrend and a continuation of the fall. It is worth expecting an acceleration of the decline in the growth of USD/CHF with a breakdown of the resistance area and closing of quotes above the level of 0.9925, which will indicate a breakdown of the upper border of the “head and shoulders” reversal pattern and the beginning of the pattern with targets at the top.
Dollar Franc Prediction September 12 — 16, 2022 suggests an attempt to develop a correction to the level of 0.9555. Where should we expect a rebound and continued growth of the pair with a potential target near the level of 1.0065. In favor of the decline will be a test of the support level. Cancellation of the growth option for the currency pair will be a fall and a breakdown of the 0.9485 area. In this case, we should expect the pair to continue to decline with the target below the level of 0.9235.