USDCHF Forecast
The USDCHF continued its bullish momentum last week topped at 0.9920 but closed a little bit lower at 0.9875. The bias is neutral in nearest term. Overall I still prefer a bullish scenario as a part of the bullish phase after broke above the rising wedge formation and the EMA 200 as you can see on my daily chart below, but we have a bearish pin bar printed of Friday suggests a potential bearish pullback. Immediate support is seen around 0.9850. A clear break and daily close below that area would give further confirmation to the bearish pin bar scenario testing 0.9765 area. On the upside, we need a clear break above the “tail” of the bearish pin bar located at 0.9920 to resume the bullish phase testing 0.9950 – 0.9977 region.

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