USD/CHF Approaching Resistance, Prepare For A Reversal!
June 28, 2018 1:21 pm
USD/CHF is approaching its resistance at 0.9987 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, multiple swing high resistance) where we expect to see a reversal, causing the price to fall to its support at 0.9919 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is testing its resistance at 98% where a corresponding reversal is expected.
Sell below 0.9987. Stop loss at 1.0031. Take profit at 0.9919.
USD/CHF is approaching its resistance at 0.9987 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, multiple swing high resistance) where we expect to see a reversal, causing the price to fall to its support at 0.9919 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is testing its resistance at 98% where a corresponding reversal is expected.
Sell below 0.9987. Stop loss at 1.0031. Take profit at 0.9919.
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The material has been provided by InstaForex Company – www.instaforex.com
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