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EURCHF approaching resistance, potential drop!

Oleh Tickmill
Broker
EURCHF is approaching our first resistance at 1.1365 (horizontal pullback resistance, short term descending resistance line, 61.8% Fibonacci retracement, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.1244 (horizontal overlap support). RSI (89) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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Chart PatternschfEUREURCHFeurchflongeurchfshortForexforexsignalsforextradingHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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