USDCHF Forecast

The USDCHF made a significant bearish momentum yesterday, slipped below the major bullish channel as you can see on my h4 chart below. This fact is a serious threat to the major bullish outlook and potential bearish reversal scenario. The bias is bearish in nearest term targeting 0.9550 especially if price able to make a clear break below 0.9650. Immediate resistance at 0.9730. Break above that area should keep the major bullish outlook intact testing 0.9800 and might produce a false breakdown scenario which could trigger significant bullish momentum.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.