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Monday, May 23, 2022

USD/CHF Technical Analysis:

USD/CHF has moved in an Uptrend by forming Higher Highs and Higher Lows.

1. Breakout happened at the bottom level of the Uptrend range line.

2. USD/CHF re-tested the breakout level and starts to move down

After the confirmation of downward movement, USD/CHF SELL signal is given.

Education note :

Uptrend = Higher Highs and Higher Lows

Downtrend = Lower Highs and Lower Lows

Why Re-testing the Breakout Level is more important ?

After market Breakout from the ranging movement, As per the breakout strategy, Breakout was confirmed and If market again Re-tested the previous Breakout level and starts to bounce back, then we can expect big and sharp movements from that Breakout level.

This breakout strategy exactly happened in this USD/CHF Sell Trade. 

usdchf forex signal reached 1314 points profit | forex GDP

USD/CHF reached the Take Profit Target Successfully.

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