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Is the downtrend over for USDCHF?
video USDCHF has been building a base in the form of an inverse head and shoulders (H&S) pattern around a two-year low of 0.8850 over the past month, boosting hopes for a bullish trend reversal. Traders are currently waiting to see whether the pair will find enough buyers to confirm the bullish structure above the 0.9000 neckline, and more importantly, mark a new higher high above the crucial 2023 constraining zone of 0.9070. Notably, the descending trendline, which connects the highs from November 2022, is located in the same area. The RSI and the MACD are sending encouraging signals, with the former stretching its ... (full story)