Tickmill
Long

EURCHF approaching major resistance, potential reversal

FX:EURCHF   Euro / Swiss Franc

EURCHF is approaching major resistance at 1.1560 ( Fibonacci retracement , horizontal pullback resistance, descending resistance) and a strong reaction could occur at this level to push price down towards 1.1455 support ( Fibonacci extension , horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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