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Thread: Eur/Chf

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    Default Eur/Chf

    So far we have seen EUR/CHF execute an orderly correction lower. We look for further downside corrective losses following the triple
    divergence of the RSI and the fact that the market has stalled at 1.6580/90 (the 1998 high and 78.6% retracement of the move down from the
    January 1997 peak). We should allow for a deeper correction 1.6450, 1.6350 short term. A break below the 1.6485 near term support line should be
    enough to trigger another sell off. Only a break above 1.6615 would imply resumption of the long term bull move at this point.
    Is Cookin!!!

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    Default

    30 May EUR/CHF Daily
    07:30 - EUR has broken under 1.6474 now and is testing 1.6455. This isalso seen giving way later, targeting next 1.6414/10. Beyond is 1.6366. We expect the upside to stay capped, with
    resistance 1.6470/81 ahead of 1.6500. (Beyond, not currently seen, are1.6530 then 1.6542.) [AW]

    R5: 1.6548 23 May high
    R4: 1.6542 * 28 May high
    R3: 1.6530 current 29 May
    R2: 1.6500 * hour extremes, cong.
    R1: 1.6470/81 hour, today highs
    S1: 1.6456/5 today low, cong.
    S2: 1.6437 7 May low, congestion
    S3: 1.6414 * 11 May low
    S4: 1.6410 * 27 Apr low, cong.
    S5: 1.6366 24 Apr low
    Is Cookin!!!

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    Default

    EUR/CHF has eroded a near term support line and remains vulnnerable to downside corrective probes following
    the triple divergence of the RSI and the fact that the market has stalled at 1.6580/90 (the 1998 high and 78.6% retracement of the move down from
    the January 1997 peak). We continue to favour a deeper correction 1.6450, 1.6350 short term.
    Is Cookin!!!

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