USD / CHF Technical Analysis Dec 1

What’s next on the USDCHF pair, bearish at 1.0147?

The USDCHF pair has been, since the 28th of November 2016, oscillating within an upside formation between the range of 1.0079 and 1.0189 respectively.

Will the bulls take control over the price or do the bears have something else in mind?

Today’s major pivot point area is the 1.0147 level where the sellers will likely take their chances to shift the price to their favour.

Probable Scenario

The latest stabilization of the pair close to the 1.0147 level is a good indication that the sellers may exert greater pressures to force the price to the downside.

The Stochastic oscillator has also confirmed that the price could aggressively drop at the 25 zone.

In the scenario where the pair decelerates, the price could fall to 1.0079 Fibonacci’s 0.0%.


Alternative Scenario

Alternatively, in the event where the sellers are not able to hold the price below the 1.0189 level, and the buyers place greater pressures, the pair could rise to 1.0261.

Today’s Major Announcements

  • The ISM Manufacturing PMI (Nov) release is expected to have a strong impact on the U.S. dollar
  • The Real Retail Sales (YoY) (Oct) release is expected to have a medium impact on the Swiss franc


·         Probable trend (Bearish): 1.0147

·         Bearish take profit target: 1.0079

·         Stop loss target:1.0189

·         Alternative trend (Bullish): 1.0189

·         Bullish take profit target: 1.0261