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Forex: USD/CHF Technical Analysis – Key Wedge Top Retested

Forex: USD/CHF Technical Analysis – Key Wedge Top Retested

2013-11-15 08:18:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices rose as expected after showing a Doji candle, completing a Falling Wedge pattern
  • The pair is again testing resistance in the 0.9192-0.9218 area (trend line from Feb’12, 38.2% Fib)
  • Breaking higher eyes 0.9320 (50% Fib); below 0.9092 (23.6% Fib, Wedge top) exposes 0.90

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-chf_body_Picture_9.png, Forex: USD/CHF Technical Analysis – Key Wedge Top Retested

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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