USDCHF FORECAST
The Swiss Franc resurgence across the board can no longer be ignored. Week 1 of September 2024, we are waiting for the release of key macroeconomic data from Switzerland (CPI) and USA (NFP).
As it is, the Swiss Franc is stronger across major currencies and we can only expect its resurgence to continue. Presently, USDCHF is yet to give a clear direction.
should the NFP data come out weaker, we expect USDCHF to break lower as indicated by the blue path then rally to the unmitigated supply zones.
In the event NFP comes out better than expected, we expect increased uncertainty and volatility, price is expected to rally without forming new lows as indicated by the orange and the red paths.
It is important to note that, should price rally to the unmitigated zone around 1.015 and fail to break higher, a head and shoulder formation would be complete indicating a future price drop
As it is, the Swiss Franc is stronger across major currencies and we can only expect its resurgence to continue. Presently, USDCHF is yet to give a clear direction.
should the NFP data come out weaker, we expect USDCHF to break lower as indicated by the blue path then rally to the unmitigated supply zones.
In the event NFP comes out better than expected, we expect increased uncertainty and volatility, price is expected to rally without forming new lows as indicated by the orange and the red paths.
It is important to note that, should price rally to the unmitigated zone around 1.015 and fail to break higher, a head and shoulder formation would be complete indicating a future price drop
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