weiloon940718
Short

USDCHF MET KEY RESISTANCE LEVEL AT NEAR 0.99200

FX:USDCHF   U.S. Dollar/Swiss Franc
13 0 2
There is key resistance level at 0.99200, where there is channel resistance, and resistance at the high of 16 march 2016 at 0.99135. Since this pair of currency has rally about 4780 pips from 3 to 19 May 2016 of almost 2 weeks time without a significant retracement, we could predict it will undergo a retracement towards support near 0.97910 (where there is resistance being tested 2 times and broken, hence becoming a support level , and also FIBO 38.2 just below it).

TRADE IDEA:
SELL AT 0.99200 UPON BEARISH REVERSAL
SL : 0.99650 OR WHEN THE BEARISH REVERSAL POINT IS BROKEN BY A STRONG BULLISH CANDLE
TP 1: NEAR 0.97910
TP2 : NEAR 0.96813
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