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FxWirePro: Swiss franc gaining strength against USD on lack of progress in US-China trade talks good to sell on rallies

Chart pattern-Triple top

 

Major resistance- 1.01285

 

USDCHF has once again declined after hitting high of 1.00982 yesterday. It has formed almost a triple top near 1.0100 level. The pair has jumped more than 350 pips in past one month on improving market risk sentiment. It hits low of 1.00448 and is currently trading around 1.00551.

 

The near term support is around 1.00410 (7- day MA) and any break below targets 1.0010/1.0020 (10- day MA)/0.9979 (20- day MA)/0.9950 (38.2% fib).

 

The major intraday resistance is around 1.0100 and any violation above targets 1.01285 (Nov 13th 2018). Any convincing break above 1.0130 confirms bullish continuation and a jump till 1.0170/1.0340 likely.

 

It is good to sell on rallies around 1.0075-78 with SL around 1.01350 for the TP of 0.9980.

 

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March 22 19:00 UTC Released

USFCOJ Stock

Actual

0.634 Pounds B

Forecast

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0.605 Pounds B

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USBeef Stocks

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479.282 Pounds M

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510.065 Pounds M

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 611730611730m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 611730611730m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 599910599910m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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