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USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9174, 0.9242, 0.9316

Key Support Levels: 0.9089, 0.9035, 0.8976

Daily Chart:

The price on the higher time frame has been in a downtrend for some time after it reversed from the 1.0125 area. It has broken a major level of 0.9542 and not a minor level of 0.9213 is also broken which shows signs of trend continuation. 

USD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.9316 and 0.9242 and has sustained below that. As of now the pair has also broken and retested a minor level of 0.9174 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.9144

TP @ 0.9099

Stop Loss @ 0.9189

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

One comment

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