Long-term and Short-term Setups

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USD/CHF Technical Analysis

~~ The counter has been sliding down in a descending channel formation.
~~ It is now consolidating in a bear flag pattern and closing in on the upper parallel.
~~ We expect the pair to find resistance around here and then continue its downside.

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EUR/USD Technical Analysis

~~ The counter has broken out of a deep consolidation.
~~ Technically, it could be interpreted as a pennant formation and box formation.
~~ Both signify deep consolidation and hence the pair has legs for a further bull run in the short-term.
 

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GBP/USD Technical Analysis
~~ The counter has formed a cup and handle pattern in the long-term charts.
~~ There might be some consolidation in the near-term.
~~ We expect the pair to be extremely bullish in the near-term.

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USD/CHF Technical Analysis
~~ The counter has found support at the lows.
~~ It is forming a base in the form of an inverted head and shoulder pattern.
~~ We expect the pair to soar when it crosses above the neckline. Hence, buy only above 0.89200.

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EUR/USD Wave Analysis

~~ The counter is currently in a 3-wave bear cycle.
~~ Now, it has completed its wave B and is poised to commence its wave C.
~~ The engulfing bearish candle has marked the beginning of wave C and hence we expect the pair to be bearish in the near-term.


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EUR/JPY Technical Analysis
~~ The counter has broken out of the critical resistance of 126.8-127.
~~ Further, it has broken out after strong consolidation in the form of flag patterns in price action and RSI indicator.
~~ Hence, we expect the breakout to sustain and catapult the prices higher.

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GBP/USD Technical Analysis

~~ GBP/USD is forming an ascending triangle pattern in the short-term charts.
~~ Further, the continuation pattern has been formed after a breakout in the long-term charts.
~~ Hence, we expect the pair to be bullish in the short-term.


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