FxWirePro: USD/CHF trade idea
Source: FxWire Pro - Technicals / 21 Aug 2018 08:49:29 America/New_York
After a long consolidation the pair declined well below 0.9900 level. The pair had hits low of 0.98947 on Aug 9th 2018 and showed a minor recovery till 0.99825. The broad selling in US dollar after Trump’s comment on US fed was the main reason for good dip in this pair. The pair hits low of 0.98686 at the time of writing and is currently trading around 0.98850.
The pair has closed below trend line support in 4 hour chart and this confirms minor weakness 0.97880/0.9725 is possible.
On the higher side , near term resistance is around 0.9928 (4- hr Kijun-Sen) and any break above targets 0.9945 (200- 4H MA) /0.9985/1.000. It should break above 1.000 for further bullishness.
It is good to sell on rallies around 0.9885-880 with SL around 0.9928 for the TP of 0.9785/0.9725.
R2 - 0.9945
S3- 0.9725© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.