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USDCHF Daily Forecast: July 02

Premium Market Reports by FXTechStrategy

USDCHF Daily Forecast: July 02
Thursday, July 2nd, 2009 @ 12:12 am by Setyo Wibowo

About Setyo Wibowo:

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. On h4 chart below we can see that the the triangle was broken to the downside indicating bearish outlook. The bias is bearish in nearest term targeting 1.0650. Immediate resistance is seen at 1.0770. Break above that area should take us back into no trading zone. CCI just cross he -100 line down on daily chart suggesting potential downside pressure.

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