USDCHF MET THE KEY RESISTANCE AT 0.99200

USDCHF has met the key resistance level at 0.99200, where there is the channel resistance, and resistance of high of 16 March 2016 at level 0.99135. SInce the USDCHF has been rallying for about 4870 pips for 2 weeks time without significant retracement, we could predict that it will retrace to the support level near 0.97910(there is FIBO 38.2, and support due to the broken resistance turning into support).

TRADE IDEA:
SELL AT LEVEL 0.99200 UPON BEARISH REVERSAL SIGNAL
SL : 0.99650 OR WHEN THE BEARISH REVERSAL POINT IS BROKEN BY A STRONG BULLISH CANDLE
TP1 : NEAR 0.97910
TP2 : NEAR 0.96850

Trade ist aktiv:

it may be a sign for this pair of currency to go down

Kommentar:

Going to hit SL since USD seems to continue its bullish trend after Janet Yellen's speak. But just leave SL unchanged and see what will happen...

Kommentar:

A very bad NFP result help this trade!!!! Continue to hold this trade.

Kommentar:

If price fails to continue fall below 0.96640, then we can close this trade first