Tuesday, May 31, 2016

Forex: USD/CHF Continues Uptrend

Foreign exchange market

Forex: USD/CHF Continues Uptrend

Research, held by KOF Swiss Economic Institute, has shown that Swiss economy keeps developing in May; it gets support from processing and financial sectors, as well as from exporters.

In May the index of major economic indicators has risen to 102.9 points, as shown by KOF report. When the record value of 102.6 points was fixed in April, economists were expecting it to rise to 102.8 points in May. "May result was maximal for the last year since its record value of 103.2 points last year," stated experts of Masterforex-V Academy[1].

"Since February the index has been higher than its long-term average value," comment KOF representatives. "Such behaviour of the index indicates that Swiss economy will show positive dynamics in short-term perspective," claim authors of the report.

Further consideration of its constituents shows their differently directed dynamics. Thus, processing industry, financial sector, and export demonstrate support to Swiss economy, whereas private consumption shows negative dynamics.

Meanwhile, USD/CHF remains within mid-term trend for decline. "USD/CHF currency pair is forming up-wave A/B of Daily2 level," suppose experts of Masterforex-V Trading System[2] . As of 30 May 2016, the pair is within probable sub-wave b(С) of an uptrend. USD/CHF will continue the current wave, once it has broken the maximum of 0.9955. Main resistance is provided by pivot MF 1.0091 and descending sloping channel MF. Breaking the rising sloping channel MF and pivot MF 0.9870 will indicate termination of the uptrend.


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  1. ^ Masterforex-V Academy (www.masterforex-v.com)
  2. ^ Masterforex-V Trading System (www.masterforex-v.com)
  3. ^ forum for traders and investors (forum.masterforex-v.com)

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