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USDCHF Daily Forecast: February 08

Share It:: 02/07/2010 07:23

USDCHF Forecast
The USDCHF attempted to push higher on Friday, topped at 1.0794 but closed lower at 1.0728. Overall direction remains to the upside with nearest target around 1.0850 before testing 1.1000 but as you can see on daily chart below, price is moving lower after touched the upper line of the bullish channel indicating potential downside pullback testing 1.0700 support area. Break below that area should lead us into to trading zone in nearest term but I still prefer a bullish scenario as long as the bullish channel valid.

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History

02/06/2010	EUR/USD Weekly Review 01 Feb 10 – 05 Feb 10
02/05/2010	EURUSD Weekly Summary: Euro remains under pressure, Hammer candlestick might give technical support next week
02/05/2010	EUR/USD Daily Review 05 Feb 10
02/04/2010	EURUSD Daily Forecast: February 05
02/04/2010	Daily Forecast for Crosses: February 05

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