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USDCHF Daily Forecast: November 03

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11/02/2009 07:42

USDCHF Forecast
The USDCHF still trapped in a range area of 1.0280 – 1.0166 as you can see in my h4 chart below. I will keep out from the market for now and wait for some key fundamental events this week, US interest rate tomorrow and NFP on Friday which expected to be the market mover to break from this range area. The ECB also going to announce it’s interest rate on Thursday, so it’s going to be a busy week. A breakout should continue bullish correction towards 1.0380 even 1.0450 area while a breakdown should lead us back to the downside re-testing 1.0040/00 psychological level.

usdchf4hchart

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