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USDCHF Daily Forecast: May 05

USDCHF Daily Forecast: May 05
Wednesday, May 5th, 2010 @ 1:56 am by Setyo Wibowo

About Setyo Wibowo:

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 Forecast
The USDCHF had a significant bullish momentum yesterday, topped at 1.1034 and closed at 1.1027 after break above 1.0888 – 1.0923 area yesterday. The bias is bullish in nearest term targeting 1.1175 – 1.1250 area especially if price able to break above 1.1095 area today. Immediate support at 1.0950. Break below that area could trigger further bearish pullback testing 1.0888 area.

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