USDCHF Forecast

The USDCHF continued its bearish momentum yesterday, bottomed at 1.0561 but rebounded to the upside, traded around 1.0620 at the time I wrote this comment earlier today in Asian session. The bias is neutral in nearest term but still within a strong major bearish scenario. On h4 chart below we have a descending triangle indicating potential bearish continuation especially if price able to break below the triangle testing 1.0500 before targeting 1.0220 in longer term view. On the other hand, violation to the upside of the triangle could trigger further upside recovery testing 1.0750 area.

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

.