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Why The Next Oil Boom Will Be Fueled By Blockchain

Why The Next Oil Boom Will Be Fueled By Blockchain

As blockchain tech works its…

U.S. Dollar Bull and Bear Markets

U.S. Dollar Bull and Bear Markets

The idea of endlessly repeated…

USD/CHF: Bullish Intraday Reversal Near Its Key Support

USD/CHF made a bullish intraday reversal (hammer) yesterday near its key support at 0.8800. A short-term rebound is likely. An hourly resistance stands at 0.8872 (27/02/2014 low). However, a break of the resistance at 0.8930 (26/02/2014 high, see also the declining trendline) is needed to negate the current bearish trend.

From a longer term perspective, the structure present since 0.9972 (24/07/2012) is seen as a large corrective phase which has potentially reached completion. The support area defined by 0.8931 (24/02/2012 low) and 0.8833 favours a potential medium-term base formation. However, a decisive break of this zone would open the way for a further decline towards the next key support at 0.8568 (27/10/2011 low).

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