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Old 23-12-2013, 13:50
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Default Re: Market news and trade recommendations by FBS

FX BAZOOKA: technicals (Dec. 23)

USD/CHF


USD/CHF is correcting lower after hitting the 0.9000 mark (38.2% Fibo) on Friday.

We believe the last week’s break above the 0.8975 resistance opened the way to 0.9050.

The pair remains supported by the wide bearish Ichimoku, the 100-period MA and the middle Bollinger (0.8970/45 area);

H4 MACD histogram is declining and is below the signal line.
Support: 0.8930/20, 0.8900/8890
Resistance: 0.9000, 0.9030, 0.9050


Chart. H4 USD/CHF

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