USDCHF Forecast

The USDCHF continued it’s bearish momentum yesterday, bottomed at 1.0560 and closed at 1.0588. Technically, this pair is in critical phase. As you can see on daily chart below, the pair is now attempting to make a valid breakdown from the range area. When that happen, we should have confirmation on bearish scenario towards 1.0364 area. Although I believe the breakdown is imminent, we should wait for a consistent move below 1.0589 area to place short trade. CCI just cross the -100 line up on h1 chart so watch out for potential upside correction testing 1.0670 area. Break above that area should lead us back to no trading zone.