• FxWirePro: usdchf trade idea

    Source: FxWire Pro - Technicals / 18 Oct 2018 08:40:53   America/New_York

    Chart pattern- Flag

     

    USDCHF has broken major Flag pattern resistance 0.99200 after a long consolidation. The pair was trading between 0.99553 and 0.98478 for past one week. It hits high of 0.99593 and is currently trading around 0.99371.

     

    The near term resistance is around 0.9960 and any break above targets 1.000/1.00680.

     

    On the lower side, any major weakness cane be seen only below 0.98500 and convincing break below targets 0.9780/0.9720.

     

    It is good to buy on dips around 0.9920-25 with SL around 0.9850 for the TP of 1.00680

     

    Resistance

     

    R1- 0.9960
     

    R2 - 1.000

    R3- 1.00680


    Support               

     

    S1- 0.9850


    S2- 0.9780

     

    S3- 0.9725

     

     

     

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