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    USD/CHF: Fibonacci analysis on 12.02.2016

    The price is likely to continue growing.

    On the 4-hour chart, the pair is correcting after a long fall towards its lows since October 2015. The first target of the correction might be the level of 0.9805 (where the 23.6% correction for the short-term trend and the 50.0% correction for the medium-term trend have concentrated). If this level is broken out, the price would continue growing to 0.9888 (38.2% correction) and 0.9955 (50.0% correction). If the price turns down, returns to its October lows and breaks down the level of 0.9670, it would continue falling to 0.9595.


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