USDCHF Forecast

The USDCHF continued its bearish momentum yesterday, bottomed at 0.8643 and hit 0.8616 earlier today in Asian session. The bias remains bearish in nearest term testing 0.8555. The strong bearish momentum in the last three days after break below the range area formed three bearish candle stick on daily chart so watch out for potential upside correction. Note that direction is not enough. We need to have a good risk – reward ratio. Aggressive intraday traders may short around 0.8710 while the best risk – reward ratio remains to short around 0.8779.

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