Tuesday, January 6, 2015
New Signal USD/CHF
*Trade Update: At 6:53 EST the Global Currency Scalper locked in profits of 11.5 Pips on this pair. As originally stated we were going to make this a quick trade, looking for a relatively small profit as to not get caught in a false breakout of a new year high.
As of 01/06/2015 @ 22:12 EST:
We have identified USD/CHF as a potential long trade, caution should be taken as this is a play of a breakout from a year high. CPI from the Eurozone is set to be released in 7 hours which can also greatly impact this pair. The Global Currency Scalper will be looking to take quick profits as to not get caught up in a false breakout.
We will be looking to go long USD/CHF on a break of 1.01450 with targets of the figure 1.02000 and 1.02200, if the later is taken out we could see this pair approach the 2010 high of 1.02780. Stops will be placed just under parity of 1.00000 which should provide major support. If the parity level is breached prior to initiating the position our view of USD/CHF will change to neutral and further evaluation will be needed. Again the Global Currency Scalper is looking to trade this pair with the utmost caution.