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  1. #1
    Specialist Member RCox's Avatar

    USD/CHF Setting Up for its Own Fib Break !!!

    We have been closely watching the EUR/CHF on its strong run higher but with a head and shoulders pattern being confirmed for the EUR/USD and breaks of critical resistance seen in the EUR/CHF, this points to a much higher run in the USD/CHF. Prices are now hitting critical resistance at 0.9610, which is the 61.8% Fib retracement of the decline from 0.9970.

    A break here will be a very bullish event and will make the pair suitable for CALLS on all time frames. Counter currency activity supports a bullish position in the USD/CHF, so this idea is good for traders of all time frames. New positions should wait for a clear break here, however, as this is critical long term resistance and any downside failures are vulnerable to follow through if shorter term traders bail out early.

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  2. #2
    Specialist Member RCox's Avatar
    As expected:

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    The USD/CHF has held above the breakout level for about 16 hours now, that a win for the shorter term trades but the bias is still positive.

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