USDCHF Daily Forecast: May 04

USDCHF Forecast
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. I still prefer a bullish scenario at this phase but as you can see on my H1 chart below, there is a potential double top formation in the making, which will be confirmed by a clear break below the “neckline” located at 0.9981 testing 0.9940 – 0.9920 support area. On the upside, we need a clear break above 1.0000 to invalidate the double top bearish scenario and resume the bullish run testing 1.0037 – 1.0100 region.