ICmarkets
Short

EURCHF approaching major resistance, potential drop in price!

FX:EURCHF   Euro / Swiss Franc
EURCHF has bounced off its major resistance at 1.1567 (61.8%, Fibonacci extension , horizontal swing high resistance). A strong reaction could occur at this level, pushing price down to the next support level at 1.1483 (76.4% Fibonacci retracement , horizontal swing low support, 100% Fibonacci extension ).

Stochastic (55,5,3) is approaching major resistance at 96% along with a bearish divergence. A corresponding drop in price might occur.

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Exactly the opposite is going to happen here
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