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USDCHF Daily Forecast: May 07

USDCHF Daily Forecast: May 07
Friday, May 7th, 2010 @ 2:58 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 was indecisive yesterday. On daily chart below we can see that price so far unable to stay above 1.1175 area indicating limited bullish momentum so far, but the major scenario remains to the upside. We need a break above 1.1200 today to continue the bullish scenario testing 1.1250 and 1.1300/30 region. On the downside, immediate support at 1.1065/50. Break below that area could trigger further bearish pressure testing 1.1000 region.

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