FxWirePro: USDCHF trade idea

USDCHF was trading higher and jumped more than 80 pips on broad based US dollar buying. It has broken major resistance around 1.0100 and jumped till 1.01242 yesterday. USD dollar was trading higher against all major especially euro after ECB trims growth forecast. DXY shown a major jump and hits high of 97.71.

The near term support is around 1.0078 (23.6% fib) and any violation below targets 1.0053 (89 -H EMA)/1.0014 (200 -H MA). It should break below 1.000 for further weakness.

The major trend reversal resistance is around 1.01285 high made on Nov 13th 2018 and any violation above confirms trend reversal. Any break above targets 1.0175/1.03400.

It is good to buy on dips around 1.00680-70 with SL around 1.0030 for the 1.0175.  

Resistance

 R1- 1.01285

R2 -1.0175

R3-1.0245

Support               

S1- 1.0078

S2- 1.0053

S3- 1.000