In general, for English-speakers, pronounce U-umlaut by forming your mouth to say "U" and then shape your lips for an "E".
If you can say "mich", the "ch" is the same sound; if you're saying "Mitch", that's wrong; Langenscheidt describes it as "a voiceless palative fricative that resembles the "h" in "a human being". It's sort of a little cat-hiss that's placed at the very back of your hard palate (where your hard palate meets your soft palate.)
The final "e" is like the "a" in above. It's also kind of like "eh".
Get the "ch" right, and then work on the vowels.
Hope that didn't make your head explode.