CHF: Swiss Franc rate continues to go down gradually

At the Forex currency market Swiss Franc rate slides down slowly on Tuesday morning and it has been going on for the third consecutive session under the pressure of external background. However, it is possible that due to high degree of uncertainty at the market investors' interest in the CHF will grow because the currency can serve as a safe habour.

Forex forecast: MACD indicator is in the positive area for the pair USD/CHF, however it goes down, confirming a previous sell signal for the pair.
Stochastic Oscillator has not identified a clear signal today, being in the oversold zone.

Forex recommendations: off the market.
Feasible event scenario at Forex: in case of breakdown at the level of 0.9925 the pair will go to 0.9970 and to the parity level. If the level of 0.9860 is exceeded, traders' targets will become the levels of 0.9820 and 0.9780. The situation in Switzerland still remains almost unchanged. 

We will reiterate our opinion that while Franc is far from its highs, the SNB will not need to make rate increase decisions. Representative of Swiss National Bank Mr. Jordan noted not once that prolonged retention of the interest rates at the low level can cause additional risks for the economy. SNB intends to closely monitor the dynamics of the real estate sector. We would also remind that Dantin noted earlier that crisis in the developing countries has slowed down and almost finished and economies of Japan and the West are recovering however recovery process is very unstable. In his opinion estimation of the Swiss GDP for September is justified. Dantin noted that strong Franc and slow pace of the recovery in the world finance system have a negative impact on Switzerland. As it became known earlier Swiss surplus of trade balance increased to 2.102 billion francs in October while a month earlier the index amounted to 1.690 billion francs.

Note that situation in Ireland can change in favour of Franc - if investors will continue to avoid risks, the CHF stability will enable it to grow.

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