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USD/CHF Trade Idea

Thursday, November 12, 2015 12:30 PM UTC

Harmonic Pattern formed- Bearish Butterfly Pattern

Potential Reversal Zone -1.0125.

The pair has made a high of 1.0085 at the time of writing and started to decline from that level.
Any break above 1.0125 will take the pair to new level 1.0160/1.0240 in short term.
On the downside major support is around 1.0025 and break below targets 0.9980/0.9950.
Overall weakness only below 0.9980 levels.

It is good to sell on rallies around 1.0065-70 with SL around 1.0125 for the TP of 0.9980/0.9950

Resistance

R1-1.0125

R2-1.016

R3- 1.0240

Support

S1- 1.0025

S2-0.9980

S3-0.9950

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USD/CHF Trade Idea

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