USD/CHF Trade Idea (3rd December 2019)
Currency Pair: USD/CHF
Timeframe: H1
Date/Time of Signal: 3rd December 2019 / 1600hrs (SGT)
Review:
Yesterday (2nd December 2019),
1) US ISM Manufacturing PMI data released at 48.3 below forecasted of 49.0 which is a 3 months consecutive industrial contraction.
2) US Commerce Secretary Wilbur Ross indicated that US will increase Tariffs on Chinese goods if there are no deal by 15 December 2019.
USD/CHF has been on a downtrend and is below the Support level of 0.9980.
Trade signaled to sell USD/CHF (Entry: 0.9910) with 3 Take Profit (TP) Targets (TP1: 0.9890, TP2: 0.9870, TP3: 0.9850) and Stop Loss (SL) at 0.9940.
Timeframe: H1
Date/Time of Signal: 3rd December 2019 / 1600hrs (SGT)
Review:
Yesterday (2nd December 2019),
1) US ISM Manufacturing PMI data released at 48.3 below forecasted of 49.0 which is a 3 months consecutive industrial contraction.
2) US Commerce Secretary Wilbur Ross indicated that US will increase Tariffs on Chinese goods if there are no deal by 15 December 2019.
USD/CHF has been on a downtrend and is below the Support level of 0.9980.
Trade signaled to sell USD/CHF (Entry: 0.9910) with 3 Take Profit (TP) Targets (TP1: 0.9890, TP2: 0.9870, TP3: 0.9850) and Stop Loss (SL) at 0.9940.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.