USDCHF Daily Forecast: March 01

By IBTimes Staff Reporter | February 28 2010 9:27 PM

USDCHF Forecast

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As you can see on my h4 chart below, price has break below the minor trendline support indicating potential bearish correction phase testing 1.0640 support area in nearest term but the main outlook should remain bullish for this pair. The bias is neutral in nearest term and I think we area in no trading zone. I prefer to wait for further development before make any decision but still prefer buy on dips strategy. Immediate resistance at 1.0800. Break above that area should trigger further upside momentum and keep the bullish scenario targeting 1.1000 intact for this week.

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