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USDCHF Daily Forecast: October 21
Tuesday, October 20, 2015 20:55
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USDCHF Forecast
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. Overall I still prefer a bearish intraday scenario at this phase but price is moving inside a bullish corrective channel as you can see on my H1 chart below challenging the H1 EMA 200 located around 0.9575 area. A clear break and daily close above that area could trigger further bullish correction testing 0.9650 region. Immediate support is seen around 0.9530 but key intraday support is seen around 0.9500 which need to be clearly broken to the downside to potentially end the current bullish correction phase.
Source: http://www.fxinstructor.com/blog/usdchf-daily-forecast-october-21-6
Personally my preference is to stay away from trading when there is anything indecisive since we can get plenty of opportunity to make profits, but if we lose then it’s gone there is no coming back, so that’s why our decision making has to be very sharp and selective. I work very well thanks to the support of OctaFX broker with their news and analysis setup, it’s absolutely free and covers up the whole market, so that helps so much.