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Technical Analysis
Daily Technical Analysis by FxGrow
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[QUOTE="FxGrow Support, post: 95531, member: 34135"] [B][SIZE="4"]FxGrow Daily Technical Analysis – 18th Jan, 2015[/SIZE][/B] [I]By FxGrow Research & Analysis Team[/I] [B][SIZE="5"]CHFPLN - breakout the upper limit of consolidation after S&P downgrade[/SIZE][/B] On Friday rating agency Standard & Poor’s cut the Poland's rating and warned of a further cut. S&P in note pointed at new government's actions without reference to the Poland's economy. Despite that other agencies does not opt to identical moves polish zloty weakened. Currency pair CHFPLN is very popular because a thousands of Poles have debt in CHF. At chart we see side trend since February 2015. CHFPLN moved between levels 3.8000 - 4.0600 by the last Friday when demand broke above 4.0600 level. Currently the return movement should occur and price should decline to 4.0600. If price rebound from that level will be a new uptrend impuls. However if supply will be stronger and price will return below 4.0600 Friday's breakout will be a false and price will moves toward the lower limit of the channel. [IMG]http://i1148.photobucket.com/albums/o568/onestore40/2016-01-18_analiza_CHFPLN-D1_zpsn156jwvw.jpg[/IMG] [I][SIZE="1"][B]Note:[/B] This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.[/SIZE][/I] [/QUOTE]
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