USDCHF Forecast

The USDCHF had a significant bearish momentum yesterday, fell back below 0.9320 and hit 0.9266. This fact suggest a failure of the bullish intraday bias and turns my nearest term bias to a bearish mode testing 0.9200 – 0.9170 area. The major bullish scenario remains intact and the current short term bias should be seen just as a corrective movement but need a clear break and daily close at least back above 0.9400 to keep the major bullish scenario strong retesting 0.9500/46 area.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.