DAILY FORECAST FOR USDCHF
Bias: 1.0775-90 is the break level although there is also support at
1.0733-58 but remain aware of both sides today
Breach of 1.0835 has undermined the strongly bullish scenario but we should be patient to allow confirmation of a reversal to develop. The key support is at 1.0790 - and also possibly 1.0775. Even then there is risk of a pullback. If we see an early correction back to the 1.0835-43 area that caps then any test of 1.0790 would more likely succeed and provoke stronger losses through 1.0733-58 and 1.0681 to reach the 1.0637 area. This should prompt a correction but in time the 1.0567 low will come under pressure.
Please view the complete analysis in the attached PDF file.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
1.0733-58 but remain aware of both sides today
Breach of 1.0835 has undermined the strongly bullish scenario but we should be patient to allow confirmation of a reversal to develop. The key support is at 1.0790 - and also possibly 1.0775. Even then there is risk of a pullback. If we see an early correction back to the 1.0835-43 area that caps then any test of 1.0790 would more likely succeed and provoke stronger losses through 1.0733-58 and 1.0681 to reach the 1.0637 area. This should prompt a correction but in time the 1.0567 low will come under pressure.
Please view the complete analysis in the attached PDF file.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
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