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Technical Analysis

USD/CHF Valid Or False Breakout?

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The rate plunged and dropped much below the sliding parallel line (SL) of the descending pitchfork, but failed to stay there and has squeezed a little. Price continues to pressure the sliding line (SL), maybe will be better to stay away from this pair right now because we don’t have any trading opportunity. A buying opportunity could appear if the rate will retest the confluence area formed between the WL2 with the SL.

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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