The USDCHF bearish momentum was paused on Friday after found support around 1.0220 area. Expected intra-day range at 1.0350 – 1.0220. Overall the major bearish scenario remains intact but we have a falling wedge formation as you can see on my h4 chart below indicating potential bullish reversal scenario especially if price break above the formation testing 1.0450 – 1.0500 region. On the downside, clear break below 1.0220 could continue the bearish scenario testing 1.0130.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.