USDCHF Forecast

The USDCHF had a bearish momentum yesterday, bottomed at 0.9520 and closed at 0.9550. The bias is bearish in nearest term testing 0.9473. The bullish flag bullish scenario remains intact but a failure to break above the flag and clear break below 0.9473 might give us an early bearish reversal signal. Immediate resistance is seen around 0.9600. A clear break above that area could lead price to neutral zone in nearest term testing 0.9650 key resistance area, which need to be broken to continue the major bullish scenario.


©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.