USDCHF Daily Forecast: March 11

By swibowo
10 March 2010 @ 10:18 pm EDT

USDCHF Forecast

Boring, boring, boring. The USDCHF made another insignificant movement yesterday. As you can see on my weekly chart below, we have 5 Dojis so far indicating more than a month of indecisive movement as price still trapped in range area of 1.0888 – 1.0640. Well, always a look at the bright side that this situation is a perfect condition to learn to be patient and to see that doing nothing can be the best thing to do. My technical strategy remains to short around 1.0888 or long around 1.0640 with tight stop loss. Break above 1.0888 – 1.0900 area should continue the bullish scenario targeting 1.1000 while a break below 1.0640 should trigger further bearish correction towards 1.0507 area.

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