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USD/CHF | Possible Bullish Continuation

USD/CHF Long-Term Trend: Bullish

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Key Resistance Levels: 0.92076, 0.92225, 0.92317

Key Support Levels: 0.91335, 0.91243, 0.91161

4-Hour Chart:

We have seen a bullish impulse wave and are now seeing a correction. If Elliot wave holds, we should get one support in the 50-61.8% area before seeing possible bull side continuation. 

USD/CHF Medium-Term Trend:Bullish

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1-Hour Chart:

We got a well-developed 12345-wave cycle (a) to the upside and are now seeing what may be the last push downwards for a correction (b). If buyers come in and support this in the support band below, we may see bullish continuation taking us up for a (c)-wave continuation.

Signal Idea:

Buy Limit order @ 0.91354

TP 1 @ 0.92225

TP 2 @ 0.92507

Stop Loss @ 0.91083

Trade Safely 🙂

About Patrick Mwenge

A chartered accountant and trader, Patrick has 7 years of financial market experience, covering commodities,FX, equities as well as crypto currencies. Patrick leverages both long term Elliot wave analysis alongside volume and time price opportunity to explore trading opportunities on both long and short term timeframes.

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