USDCHF Forecast

The USDCHF had a bullish momentum yesterday, broke above the range area as you can see on my hourly chart below. The bias is bullish in nearest term especially if price able to make another breakout above 0.8460 testing 0.8555. My overall technical bias remains to the downside and the current bullish pullback is normal. I prefer to stand aside for now. On the downside, another move back below 0.8381 would lead us to neutral zone in nearest term but would keep the major bearish scenario remains strong.

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