Trade Recommendation: USDCHF

The price bounces from the resistance zone formed by the downtrend line, SMA50 and 0.99500 resistance level. RSI confirms price reversal and MACD histogram supports downward movement. DMI allows opening short trades. We have a trading opportunity. Pending orders for sell can be placed at 0.98990 with stop at the 0.99550 level. Profit targets are 0.98600 and 0.97500 levels. Don’t risk more than 3% of your deposit in this trade.

Market: USDCHF
Sell: 0.98990
Stop: 0.99550
Profit Targets: 98600 and 0.97500

Disclaimer: The analyst does not have investments in USDCHF.

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Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.