USD/CHF Trade idea

• Candle Stick pattern formed – Shooting Star
   
• The pair jumped sharply till 1.000 on 25th Oct and declined sharply from that level. It is trading around 0.99336.
   
• Short term trend is weak as long as resistance 1.000 holds. Any violation above 1.0000 confirms further bullishness, a jump till 1.0040/1.0090 is possible.


• On the lower side, support stands at 0.9900 and any indicative break below targets  0.9840 (21-day MA)/0.9780.
   
• Short-term reversal only above 1.000.​
  
  It is good to sell on rallies around 0.9960 with SL around 1.000 for the TP of 0.9845/0.9780.

Resistance

R1-0.9960

R2-1.000

R3-1.00390

Support               

S1-0.9900

S2-0.9845

S3- 0.9780