MEX_Exchange
Long

USDCHF testing major support, prepare for a bounce

FX:USDCHF   U.S. Dollar / Swiss Franc
Buy above 0.9569. Stop loss at 0.9501. Take profit at 0.9699.
Reason for the trading strategy (technically):
Price is testing major support at 0.9569 ( ABC Fibonacci extension , 76.4% Fibonacci extension , horizontal swing low support) and we expect price to make a nice bounce above this level to push it up to at least 0.9699 resistance ( Fibonacci retracement , horizontal pullback resistance).
Stochastic (34,5,3) is seeing major support above 5.8% where a corresponding bounce is expected.

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