This is a weak market as USD/CHF has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EUR/USD gains a lot of stamina. This is because the EUR/USD and the USD/CHF are negatively correlated.
There is a Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
This is a weak market as USD/CHF has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EUR/USD gains a lot of stamina. This is because the EUR/USD and the USD/CHF are negatively correlated.
There is a Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.
The material has been provided by InstaForex Company – www.instaforex.com
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