USD/CHF
Time frame: D1
Technical Analysis: For a long time, we have seen an exceptionally strong upward trend in USD/CHF currency pair. Currently, the price is based on strong diagonal resistance, with several days attacking it but without a breakthrough, forming a few candles on the chart that signaled a potential reversal. Several projections of Fibonacci are plotted on the chart.
1st projection: From the bottom recorded at 0.9185 to the current high.
2nd projection: From 0.9895 to the current high.
These projections show potential levels that in time would be price support, at which point levels 23.6 and 38.2 are considered to be support in both projections.
Indicators: The price is over 50 and 200 EMA, and they play a support role at this stage.
RSI and CCI are in an overpriced market that supports the "sell" scenario.
Entry into Deal: From current levels
SL: 1.0245
Alternative scenario: If the price breaks through long-term diagonal resistance and breaks down 1.0230, then it will continue its appreciation to test the previous highs around level 1.0335.
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