If the first support level of 0.99500 won't be broken we could see a possible raise to 0.99950
If the support level will be broken we could see a fall to the second support level which is 0.99200
Wait for confirmation of the first support level!
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USDCHF broke out sharply last week, expecting the correction to continue a bit before fresh falls, momentum across the board is in line so looking for short setups here.
Trade safe!
Thanks for your support.
as previously analysed this has started to make
the expected drop. should give us once more drop
before the up trend continues
SUPPORT THE MOVEMENT WITH YOUR LIKES,
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#USDCHF, USDCHF, $index long% decreased 3% while short% increased 3%. indication for weakness in $index. CHF bearish decline Non-Commercials opened both side positions i.e long & short. price in the zone of many resistances 1.0020-1.0080.
The breakout of the blue trendline, it will give a bearish signal with the first target a 0.97300 and the second one in the area 0.96000/0.96450. Stop loss at 1.00400/1.00450.
A bearish engulf pattern reject the resistances. Also as you can see this is the fourth time that price was around 1.0037 resistance
so with bearish engulf signal we can go short.
