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USDCHF Consolidation Since Late June Near Completion

The USDCHF is gaining for a 3rd straight day, fueled by yesterday's FOMC Minutes and quickly approaching the highs of June, July and August. Significantly, the USDCHF appears poised to resume its upchannel extension (on the weekly chart), with the current weekly candle breaking above a downtrend resistance line connecting the April high to the July high. The USDCHF is moderately likely to test the March and 2021 high by September sometime, with the catalyst for a decisive weekly chart upchannel continuation likely coming from Jackson Hole Aug 26-28. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter)

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