USDCHF Forecast

The Dollar attempted to fight back yesterday as the pair topped at 1.0121 but failed to corrected further and closed lower at 1.0048. Like I said yesterday, we are near the psychological 1.0000 area so volatility and hesitation in the market won’t be a surprise for me. The bearish trendline on h4 chart below should be our guide that the bearish scenario remains strong and intact. I think I will stay out from the market for now and see any reactions around 1.0000 area today before make any decisions. Long position is not recommended. Break below 1.0000 area should take us into a new phase of bearish scenario. Immediate resistance at 1.0120/66 area.