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USDCHF Analysis 09.10.2019

Analysis based on round-number levels, price channels and modified Elliot Waves

The overall movement of the currency pair is upward. The downward patterd ended with the breakout of the inclined channel. A level M30 ascending pattern is formed within the main ascending pattern. Bullish divergence has formed on Awesome Oscillator.

Trading recommendations:

Buy above the round intermediate level of 0.9950 (as a level M30 ascending pattern is forming).

Stop Loss under the round important level 0.9900 (under the construction base).

Target levels — 1.0020 (trap for professionals and round secondary level); 1.0090 (138.2% Fibo from A H12 wave).

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