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Sept 27, 2024

Trade ideas

USDCHF: Range Movement

USDCHF, H4

USDCHFH4.png

On the H4 timeframe, the USDCHF pair navigates within a range and currently tests the 0.8410 support.

The MACD histogram crosses the 0-line down, potentially indicating a bearish sentiment for the pair.

  • If the USDCHF rebounds from the 0.8410 support it will rise to 0.8540 and the golden Fibonacci pocket;
  • However, a breaching below the support will drop the price to 0.8240 and the 161.8 Fibonacci.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Timur Yurdagyul

Author: Timur Yurdagyul

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