Will strong support hold USD/CHF bear run ? for FX:USDCHF by TriplePips

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💡Hello traders,

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I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.

USD/CHF has been in free fall for last couple of days. Now price has approached key support and Stochastic shows us price is oversold. Will price break this key zone ? We will closely monitor price to see, this could be nice opportunity in both scenarios.

Let us know what you think about this idea.

Trade safe !

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Comments

I have to wonder if the mid-March recovery on UC was partially due to the US Government's upcoming stimulus package and reaction to the downturn in the economy. At present, the White House + GOP doesn't really want another stimulus package and has been dragging their ass, thus giving the world a clear sign that the USD is losing luster. I think if the US Government were to come up with a plan to turn the US economy around that, we'd see a better chance of a UC reversal. Just my thoughts, which of course is purely speculative :-) :-)

mbender71

@mbender71, thank you for you comment. You might be right USD does not look good at the moment :)

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