USD/CHF closed the week in green maintaining the bullish outlook. The Greenback’s safe-haven appeal remains unquestioned. Jackson Hole symposium is the key event that can provide massive strength to the US dollar. US consumer sentiment is still sour, as indicated by the dismal retail sales figures. Technically, the pair is supported by the key SMAs, looking poised to gain next week. The weekly forecast for the USD/CHF indicates that the price is likely to pause decline and initiate a bullish reversal. However, Jackson Hole Symposium can provide extreme strength to the US dollar in the second half of the week. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- The USD/CHF started the week with a strong bearish bias from 0.9120 and closed the week in red at 0.9168, with a net gain of 48 pips. Despite an unknown number of Americans missing and Afghanistan in Taliban hands, the spectacle of the Biden administration’s powerless withdrawal has heightened international concern and, perhaps absurdly, boosted the dollar. Government bond yields in the United States fell as the market placed more importance on economic data than FOMC minutes, which were somewhat outdated. Get FREE Forex Signals Now! As part of its annual three-day symposium, the Federal Reserve is kicking off in Jackson Hole on Thursday, August 26. The looming throttling has been highly suspicious; however, Fed officials will likely be reluctant to leave their options open in a US economic slowdown or job creation. US consumption may be pressured by consumer sentiment and inflation, as retail sales fell in July after consumer sentiment declined sharply in August. However, industrial production and capacity utilization exceeded expectations despite a weak economy. Further, the number of initial unemployment benefits applications fell to a new pandemic low. Nevertheless, consumer spending in the United States remained cautious despite a strong economic recovery. –Are you interested to learn more about forex signals? Check our detailed guide- Key data releases in Switzerland during Aug 23-27 There is no significant data release from Switzerland next week except Credit Suisse Economic Expectations. The data release is a non-event that may not leave any impact on the CHF. Key data releases in the US during Aug 23-27 Prelim GDP q/q: GDP is a primary gauge for economic health. The number is expected to slightly rise to 6.6% against the previous quarter’s reading at 6.5%. Upbeat figures will strengthen the odds of tapering/rate hikes. Unemployment claims: The weekly unemployment claims are likely to decrease to 345k against the previous week’s reading at 348k. Core PCE price index m/m: This is one of the most observed indicators to gauge the inflation and economic health of the US. The previous reading was quite dismal that had sent the dollar down. Coming reading for July is expected to slide further to 0.3%. However, any surprise (upbeat figures) can provide further support to the rising Greenback. Fed Chair Powell speaks: Investors will look for further clues about tapering and rate hikes on Friday. Jackson Hole Symposium (Aug 26-28): The three-day event is the most important release next week. Fed is likely to outline the plan for tapering in the symposium. USD/CHF weekly technical forecast: Key SMAs to support upside USD/CHF weekly forecast – daily chart The USD/CHF pair remains supported by the congestion of 20, 50 and 100 day SMAs. The upside wave from Tuesday to Thursday showed a rising volume followed by a weak down bar with low volume. This indicates a “no supply” bar which is a sign of bullishness. The 200-day SMA is flat, which a point to ponder for the technical buyers is. However, this could be due to Friday’s retracement. The upside targets could be at 0.9200 ahead of 0.9250 while on the flip side, 0.9150 will provide immediate support ahead of 0.9100. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. USD/CHF Forecast share Read Next Ethereum Price Prediction: ETH Gearing Up For The Big Rise Gerald Fenech 2 months USD/CHF closed the week in green maintaining the bullish outlook. The Greenback's safe-haven appeal remains unquestioned. Jackson Hole symposium is the key event that can provide massive strength to the US dollar. US consumer sentiment is still sour, as indicated by the dismal retail sales figures. Technically, the pair is supported by the key SMAs, looking poised to gain next week. The weekly forecast for the USD/CHF indicates that the price is likely to pause decline and initiate a bullish reversal. However, Jackson Hole Symposium can provide extreme strength to the US dollar in the second half of the week.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.