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USDCHF Daily Forecast: March 31

USDCHF Daily Forecast: March 31
Thursday, March 31st, 2011 @ 6:12 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 slipped above 0.9230 yesterday but unable to stay consistently above that area and now traded lower around 0.9170.  Although it’s too early to say that bullish correction is over, the bias is bearish in nearest term testing 0.9090 as we might have a false breakout scenario here. Immediate resistance at 0.9200. A clear break above that area would lead us to neutral zone in nearest term but only a consistent move above 0.9230 would give the bullish correction scenario another chance testing 0.9368.

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