USDCHF Forecast

The USDCHF was volatile but indecisive yesterday, made a Doji on daily chart. Price attempted to push lower but again, still unable to make a clear break below 0.8325 key support area. The overall intraday bias remains to the downside but need a clear break below 0.8325 to continue the bearish pressure aim for new historical low. The CCI bullish divergence on h4 chart below gives a good reason for a long position around 0.8325 with good risk – reward ratio and tight stop loss below 0.8325. On the upside, only a clear break back above 0.8460 could be a threat to the major bearish outlook at least testing 0.8555 region.

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

.