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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/CHF approaching major resistance, prepare to sell

Price is approaching major resistance at 0.9675 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9578 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,3,1) is approaching our 100% resistance once again where we expect a strong reaction from.

Sell below 0.9675. Stop loss at 0.9706. Take profit at 0.9578.

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The material has been provided by InstaForex Company - www.instaforex.com