Saturday, February 27, 2010

USDCHF (1.0733)

USDCHF tested 1.0700 level but was not able to break it and we might see it test it once again. Aggressive traders will look to sell on rise to 1.0790 level and might also use a trailing stop to test 1.0700 level. If USDCHF breaks above 1.0800 level, then traders will look to reverse the position and and look to target 1.0900 level.

Recommended Trade:

Sell USDCHF @ 1.0790
Stop @ 1.0835
Profit 1 @ 1.0710
Profit 2 @ 1.0675


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