USDCHF Daily Forecast: November 26

  @ibtimes on November 25 2009 7:50 PM

USDCHF Forecast

The USDCHF had significant bearish momentum yesterday. On h4 chart below we can see that after break below my trendline support, price had a nice bearish momentum, fell below psychological area 1.0000, bottomed at 0.9954 and closed at 0.9963. I think we are in a new phase of a bearish scenario. The bias is bearish in nearest term targeting 0.9890 area. CCI in oversold area and heading up on h4 chart so watch out for potential minor upside correction testing 1.0000 area. Break above that area should lead us into no trading zone but I prefer a bearish scenario at this phase.

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