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theforexarmy

USDCHF at major resistance, prepare to sell

Short
U.S. Dollar / Swiss Franc (FX:USDCHF)  
theforexarmy  
FX:USDCHF   U.S. Dollar / Swiss Franc
USDCHF usdchfshort usdchfidea usdchfdaily usdchfnews usdchflong USD chf usdchfanalysis usdchf1hr usdchflongsetup usdchfsell usdcadshort
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usdchf usdchfshort usdchfidea usdchfdaily usdchfnews usdchflong usd chf usdchfanalysis usdchf1hr usdchflongsetup usdchfsell usdcadshort
Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857.
Reason for the trading strategy (technically):
We remain bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) for another push down to 0.9857 support (Fibonacci projection, recent swing low support).
Stochastic (21,5,3) has reacted off our 92% resistance as expected and has good downside potential.
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