Daily Graphic

At the beginning of the week there were many significant changes for the USD/CHF pair and it closed just 14 pips of its opening price.The Swiss report retail sales had no major impact on the currency even though there was an increase of 2.3% in June beating the forecast of 1.9% expected. Meanwhile, we can expect USD/CHF to move within its range area between the line 4/8 and 3/8 Murrey lines today.

Graphic 4 Hours

In 4h chart possible continuation of the upward trend is limited by the line 4/8 (blue line) the same resistor becomes important because it acted as a support was not easily overcome in the days before in the downtrend. Hence also now be difficult for the couple above this level for a possible change of trend.

But on the contrary we believe that the pair tried to still make a new low at the moment the price is underneath the level of 3/8 (green line) and line breaks the short-term uptrend that has formed since the last minimum reached.

Graphic 1 hour

In 1 hour charts oscillator strength bars shows decrease approaching the zero point. On the other hand, the trend oscillator is emerging from oversold zone and the apex of the two trend lines for this time frame coincides with the line 7/8 (yellow line) a line of weak resistance. So we can expect that today the price move downward taking first objective 0.9216.

So our suggestion for Tuesday August 13 is selling below 0.9277 into a very tight stop loss of 30 pips and take profit at 0.9216 for a minimum benefit risk 1-1

A second possible scenario is that the price exceeds the downtrend green line and go in the direction in which case 0.9293 would invalidate our suggestion sale and would leave the market with a calculated loss.