USD/CHF Price Prediction: Surges in bullish breakout from multi-week range
Source Fxstreet
- USD/CHF breaks out of the range it has been straight-jacketed in for weeks.
- The pair has probably started a new uptrend with odds now favoring the acquisition of bullish targets.
USD/CHF decisively breaks out of the top of its multi-week range, probably ending its protracted sideways market trend. A close clearly above 0.8540 and the range ceiling would cement bullish expectations.
The move means the pair has probably changed its short-term trend from range-bound to bullish, and since it is a fundamental principle of technical analysis that “the trend is your friend” the odds favor a continuation higher.
USD/CHF 4-hour Chart
USD/CHF is now likely to reach an upside target at a minimum of 0.8617 (August 14 swing low), or 0.8622 (Fibonacci 61.8% extrapolation of the height of the range higher). A really bullish move could reach 0.8675, the 100% extrapolation of the height of the range.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver price (XAG/USD) is down 4.3% to near $61.50 during the European trading session on Monday. The white metal nosedives as elevated United States (US) Treasury Yields have diminished its appeal.
As of the Asian session on September 28, international gold prices continued their recent weakness, with spot gold (XAUUSD) falling below $4,200 intraday to a low of $4,179.42, down over
Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decisionThe US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.
The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.
Brent edges toward $99 as Trump rejects Iran's Hormuz proposal — why the war-risk premium won't rebuildBrent crude rose 0.92% to $98.51 and WTI gained 1.15% to $93.51 after President Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz. But both benchmarks remain about 12% below their early-September highs, because supply never actually stopped. Hormuz flows ran at 33.7 million barrels this week, in line with the prior week, and Saudi Arabia's East-West pipeline restarted on September 22.
Brent crude rose 0.92% to $98.51 and WTI gained 1.15% to $93.51 after President Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz. But both benchmarks remain about 12% below their early-September highs, because supply never actually stopped. Hormuz flows ran at 33.7 million barrels this week, in line with the prior week, and Saudi Arabia's East-West pipeline restarted on September 22.
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
Related Instrument
