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USDCHF stays in a price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 19, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    USDCHF stays in a falling price channel on 4-hour chart and remains in downtrend, and the bounce from 0.9932 is more likely consolidation of downtrend. Range trading between 0.9932 and 1.0277 would is expected in a couple of day. As long as 1.0277 key resistance holds, another fall to 0.9700 is still possible after consolidation. However, a break above 1.0277 will indicate that the fall from 1.1730 (Jun 1 high) has completed at 0.9932 already, then the following upward movement could bring price to 1.1000 area.


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