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USDCHF stays below the falling trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 22, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF stays below the falling trend line on 4-hour chart and remains in downtrend from 1.0452. As long as the trend line resistance holds, we’d expect downtrend to continue and deeper decline towards 0.9950-1.0000 area would more likely be seen later today. However, a clear break above the falling trend line will suggest that a short term cycle bottom has been formed and the downtrend from 1.0452 has completed already, then the following uptrend could take price back to 1.0300 zone.

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