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USD/CHF warns of a stronger rally attempt

A well bid USD/CHF elevates the ADX above its 50 level, signal of a highly constructive trend on 1hr charts.

What makes the higher settlement in the ADX rare -although not unprecedented- is the fact that it was printing below 35 ten hours ago.

Such an outperformance encourages momentum traders to pile in, and adjust positions by means of trailing stops. This may have the opposite effect of a corrective slide, driving the prices towards the 200-hour SMA to find less impulsive buyers.

EUR/USD: big time supply after Draghi - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that ECB's President, Mario Draghi, surprised the markets with his announcement this Thursday, which lead to one of the largest EUR/USD intraday declines in almost two months.
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Wall Street rallies on earnings and ECB

U.S. stocks jumped on Thursday with the S&P 500 index hitting a two-month high on stronger-than-expected corporate results from companies including McDonald's and cues from the European Central Bank about extending its stimulus program.
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