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USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.85445, 0.86009, 0.86658

Key Support Levels: 0.84695, 0.84325, 0.83598

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.90837 level and reversed. The pair has continued to break a few support levels which suggests further 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 few support levels and as of now the pair has broken a level of 0.85445 and formed an aggressive supply zone before continuing the move.

Signal Idea:

Sell Stop Order @ 0.85144

TP @ 0.84729

Stop Loss @ 0.85559

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.

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