*Position Update: As of 02/11/2015 @ 6:49 EST The Global Currency Scalper has covered its short position at 0.92642 for a loss of 35.5 Pips. We may have grown impatient with this short position but after two other USD trades which resulted in solid profits we have decided to liquidate this position.
As of 02/09/2015 @ 9:26 EST:
We have identified a possible short trade in USD/CHF. This pair has been consolidating it's huge down move from the SNB announcement a few weeks ago. The consolidation has been taking place for about 9 days and the Global Currency Scalper feels this phase is about to come to an end with another move to the downside. The downside pressure may be too great for buyers to overcome in the near future.
The Global Currency Scalper will be taking a short position with a break of 0.92250, a market order above this figure can be executed as well. Forecast will be the figure of 0.92000, then 0.91650, the figure of 0.91000 and ultimately 0.90400. We will be placing a stop with a break of 0.93500, if this level is traded prior to initiating a position our view will turn neutral and further evaluation will be needed.
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