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USDCHF Daily Forecast: September 30

USDCHF Daily Forecast: September 30
Thursday, September 30th, 2010 @ 4:56 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 was indecisive yesterday, formed a Doji on daily chart. The bias is neutral in nearest term but still in the context of major strong bearish scenario targeting 0.9647 especially if break below 0.9730. I have made adjustment to the bearish channel.  Immediate resistance at 0.9814 (yesterday’s high) and the upper line of the bearish channel. Break above that area could trigger further upside correction but as long as price stay below 0.9931 I think we are still in strong bearish phase.

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