USD/CHF: Potential Break at a Key Resistance 🦐
USD/CHF has been in a downtrend, but recently tested a weekly resistance level at 0.91000.
After testing this level, the market started an impulse move and has now tested the 0.618 Fibonacci level.
This level is significant because it is a key retracement level and is often an area where the market may see a reversal or a significant pullback.
Traders may look for a potential long-trade opportunity if the market holds above this level, with a stop loss and the target set according to the Plancton's strategy rules.
Currently, the market is trading below the 0.92400 resistance level. A break above this level could show a sign of a potential buying signal.
After testing this level, the market started an impulse move and has now tested the 0.618 Fibonacci level.
This level is significant because it is a key retracement level and is often an area where the market may see a reversal or a significant pullback.
Traders may look for a potential long-trade opportunity if the market holds above this level, with a stop loss and the target set according to the Plancton's strategy rules.
Currently, the market is trading below the 0.92400 resistance level. A break above this level could show a sign of a potential buying signal.
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