USD/CHF:
Date: 12 October, 2016
H4 Graph: Medium Term Long Trend
The price reached previous high at 0,98900 and now it may be ready for a short correction, down to the last support, which was broken resistance as the price was moving up. This levels is the same as the Fibo 23,6% as well. Possible good place for a new long position after correction down to horizontal and diagonal support and Fibo level. It is important to wait and see price action signal for long.
Alternative Scenario: if the price does not stop and continue down and moves below the horizontal support and 0,9800, this may cancel the bullish view
Technical Indicator:
DEM (14): In the overbought zone
Price for Entry long around: 0,98350
SL: 0.9800
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