Forecast:

At 0.9230 a strong level will be formed providing a clear signal for Sell-deals with the target seen at 0.9140 level. Stop Loss is to be placed above 0.9295.

Overview:

USD/CHF:

It is necessary to consider that the price is still located between points 0.93 and 0.9115, i.e. above the strong support level 0.9130 (100% of Fibonacci retracement levels on H4 chart). These levels correspond to 100% and 161.8% of Fibonacci retracement levels on the H4 chart. The pair has already formed a strong resistance at this level of 0.9215 and is presently approaching it for further testing. Therefore, the swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9230 level. Sell-deals are recommended below 0.9230 with the first target seen at the 0.9160 level. Thus downtrend is likely to continue the bearish movement towards the 0.914 level. Moreover, it is crucial that the price has probably formed a strong support at 0.913 (100% of Fibonacci retracement levels on H4 chart). The saturation is like to take place around 0.913. Therefore it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.9130 with the first target seen at the 0.9215 level and further at the 0.93 level.ly