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.