USDCHF Forecast

The USDCHF didn’t make significant movement on Thursday. On h4 chart below, we can see that after had bullish momentum since December 04 and topped at 1.0507 price has been consolidating lower, move in a bearish channel, but bearish momentum found a good support around 38.2% Fibo retracement around 1.0280 area. I think we are in no trading zone now. Do not rush jump into the market. The bearish correction will be considered over only if the bearish channel violated to the upside, targeting 1.0700 this week. On the other hand break below 1.0280 area should be seen as bullish failure and trigger further bearish momentum targeting 1.0150 area.


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