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T3-Consultancy

USDCHF H4: Bearish outlook seen, further downside below 0.99200

Short
U.S. Dollar / Swiss Franc (FOREXCOM:USDCHF)  
T3-Consultancy  
FOREXCOM:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD chf usdchflong usdcfhshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern usdchf usd chf usdchflong usdcfhshort forex forextrading forexsignals
On the H4 time frame, prices are approaching the resistance zone at 0.9920, in line with the 23.6% Fibonacci retracement and a pullback to this resistance zone presents an opportunity to play the drop to the support target at 0.9750. This support zone lines up with the 61.8% Fibonacci retracement and 100% Fibonacci extension. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
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