USD/CHF
Time frame: H4, D1
Technical Analysis: The chart shows that the pair is moving in a strong downtrend. After making a low at 0.9660, the price went north. Currently, the price is at strong diagonal resistance, which starts from the top on 07/05/19. At the same time, 38.2% of Fibonacci is at this level, which is designed from the top at 1.0235 to the bottom at 0.9660. This level has a strong price resistance, which supports sales.
Indicators: RSI and DeM are in over-bought values, which supports sales. RSI has formed a divergence (equal peaks of the indicator, and at the same time higher peaks at the price). This gives an additional signal that sellers will soon enter the market.
At this stage, all moving averages play the role of price support.
On the daily chart just above this level is 100 periodic EMA, which is resisting the price.
SL: 0.9910
Alternative scenario: If the price breaks through at a daily time frame of 38.2 and diagonal resistance, then we can see the price rise to the next resistance level at 50% Fibonacci.
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