LeoPrime Daily Market Analysis

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USDCHF rising inside daily Triangle; Likely to rise to 0.97500

USDCHF recently reversed up from the support area lying between the support level 0.96350, support trendline of the daily Triangle from the end of March and lower daily Bollinger Band. The upward reversal from this support area created the active daily candlesticks reversal pattern Bullish Engulfing. With moderate bearish sentiment affecting the swish franc at the moment – USDCHF is likely to rise further inside this Triangle toward the next resistance level 0.97500, intersecting with the upper trendline of this Triangle (which reversed the previous waves (ii) and ii).

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