USDCHF Daily Forecast: February 28

By @ibtimes on

USDCHF Forecast

The USDCHF bearish momentum was paused on Friday. That was a normal consolidation after a strong bearish momentum in the last two weeks and although the bias is neutral in nearest term, overall the technical bias remains strongly bearish especially if price able to make another clear break below 0.9233  targeting 0.9100 and 0.9000 this week. However, as you can see on my daily chart below, we have a double bottom formation at 0.9233 area which suggests potential upside correction testing 0.9330, but long position is not recommended. A clear break below the double bottom would reactivate my bearish mode.

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