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  • Squawk / 02 July 2016 at 21:29 GMT
    Senior Analyst /
    Saint Vincent and the Grenadines
    Weekly Trading Forecasts on Major Pairs (July 4 - 8, 2016)

    Dominant bias: Bullish
    USDCHF was essentially a flat market before June 23, 2016. It was pushed upwards only by fact of the strong decline in EURUSD. Price made a faint bullish attempt last week, but it met an opposition from bears, who checked further bullish movement, and forced the price to bend downwards (in the 4-hour chart). The bullish signal on USDCHF is in a precarious situation; which means that further bearish correction could cancel the bullish signal, thus forcing price back into the neutral territory, in which it was before June 23. This week, bulls need to keep on pushing price north in order to avoid bears’ victory. There is one big roadblock ahead: CHF would soon gain a serious stamina this month and it could bring about some selling pressure on USDCHF, while having visible bearish effects on other CHF pairs (save CHFJPY).

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