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USDCHF Daily Forecast: January 11

USDCHF Daily Forecast: January 11
Friday, January 11th, 2019 @ 4:38 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 strong bullish momentum yesterday, topped at 0.9848. Price is moving back inside the bearish channel as you can see on my 4H chart below, suggests a potential bullish correction testing the upper line of the bearish channel and 0.9950 region. On daily chart, we have a bullish engulfing pattern which also suggests a potential bullish pullback. The bias is bullish in nearest term testing 0.9900 – 0.9950 region. Immediate support is seen around 0.9790. A clear break below that area could lead price to neutral zone in nearest term retesting 0.9750 area which need to be clearly broken to the downside to resume the bearish phase testing 0.9600 – 0.9535 region.

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