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Market View

USDCHF is setting up new upside targets!

Monday, September 25, 2017 9:29 AM GMT

USDCHF is heading back to the major daily and weekly Swing High (0.977). Germans Elections had a positive effect during Asian and London’s session. Reviewing the H4 TF, the pair has activated a double bottom pattern and measured target close to 0.993. Alternatively, Fibonacci extensions have set lower targets like the zone 0.977 – 0.978 and 0.999 level. These targets act as future resistances; therefore, traders may have short trade setups. Heading to the hourly TF, the pair is moving within a rising channel. As long as it follows it, then traders can use channel’s trend lines as possible intraday trade setups.

Today’s agenda includes US Chicago Fed National Activity Index (Aug) (Previous: -0.01), US Dallas Fed Manufacturing Business Index (Sep) (Previous: 17.0, Forecast: 11.5) as well as ECB President Draghi's and Cœuré Speeches.




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