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theforexarmy

USDCHF Approaching Strong Support, Prepare For A Bounce

Long
U.S. Dollar / Swiss Franc (FX:USDCHF)  
theforexarmy  
FX:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD chf Forex forexsignals AUDUSD GBPUSD USDJPY
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trendanalysis harmonicpatterns chartpattern usdchf usd chf forex forexsignals audusd gbpusd usdjpy
Buy above 0.9888. Stop loss at 0.9857. Take profit at 0.9949.
Reason for the trading strategy (technically):
USDCHF is fast approaching major support at 0.9888 (Fibonacci retracement, horizontal pullback support) and a strong bounce could occur at this level to push prices all the way up to our profit target level of 0.9949 (Fibonacci retracement, breakout level).

Stochastic (34,5,3) is seeing strong support above 7.3% where a corresponding bounce could occur.
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