USDCHF Daily Forecast: November 24

By swibowo
23 November 2009 @ 09:04 pm EDT

USDCHF Forecast

The false breakout I told you yesterday gave us a valid signal of a significant bearish pressure. Price fell below 1.0120, bottomed at 1.0070 but found support at the minor trendline support area (aqua). Today, the battle is between that trendline support and 1.0120 resistance line. Break on either side should give us clearer direction towards 1.0000 psychological area or back to the upside re-testing 1.0207 area. CCI just cross the -100 line up on h4 chart suggesting potential upside pressure.

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