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Friday, November 05, 2021

USDCHF❗Short ๐Ÿ“‰

USDCHF❗Short ๐Ÿ“‰

The USD / CHF currency pair continues to move within the fall and the downward channel . At the time of the publication of the Forex forecast, it is 0.9161. There is a potential for the formation of the “Head and Shoulders” reversal pattern, according to which we have already given a signal in our closed group. Moving averages indicate a short-term bearish trend for the pair. Prices broke through the area between the signal lines downward, which indicates pressure from sellers and a potential continuation of the fall in the asset value from the current levels. At the moment, we should expect an attempt to continue the development of the depreciation of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9105. Then, a rebound upward and the beginning of the rise in the US Dollar rate against the Swiss Franc with a potential target above 0.9325 as part of the reversal pattern development.

Have a nice trade!

from TradingView Ideas
via gqrds

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