DAILY FORECAST FOR USDCHF

Bias: While 1.0977-83 caps I feel we should see a pullback to 1.0840-50 (max 1.0820) before higher again

Well, the strength seen yesterday does seem to limit the downside to corrections only and I’m not sure these will be that deep. I do feel the 1.0977 area should cap early on today and generate a pullback that could well be quite choppy back below 1.0905 and to the 1.0840-50 area (allow for 1.0820.) However, while the structure remains bullish I feel this will be the most we see. Thus for any stronger bearish stance wait for a break of 1.0820 and only if seen would it generate a push down to 1.0780-00 at least. Next support is at the 1.0746 corrective low

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.

Kind regards

Ian

The Brief Daily Forecaster.pdf