Written by Bahagian Pentadbiran in
| USD/CHF Daily Forecast
Wed,April 20, 2011 | Dear Fellow Trader,
Setyo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. | | The USDCHF had a bullish momentum yesterday, slipped above 0.9000 but still unable to stay consistently above that area so far. There are no changes in my daily outlook, where the major scenario remains strongly bearish but price is still in a consolidation phase as bearish seems exhausted. The bias is neutral in nearest term. Immediate support at 0.8950. A clear break below that area would change the intraday bias to bearish testing 0.8900 key support area. A clear break below 0.8900 could end the consolidation phase and continue the major bearish scenario targeting 0.8850/00 even lower. On the upside, a clear break above 0.9000 could trigger further upside pullback testing 0.9055 - 0.9130 resistance area. Please click here to see how I applied my technical studies to this pair on the 4 hour chart a few minutes ago. |
| I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog. Happy Trading! | | | Analyst Profile Living in East Java, Indonesia and holding an International Relations degree, Setyo Wibowo began his forex trading career in 2000 as a market analyst, while learning to trade forex independently on his own. to learn more about Setyo Wibowo. |
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