On the lower side, break of 1.1500 level will confirm the reversal of trend and break traders will look to sell USDCHF. Mostly traders will look to buy around 1.1550 level with stops and reversal entry around 1.1500 level.
Sunday, June 6, 2010
USDCHF seems to head back towards 1.1700
USDCHF after being traded in sideways range for couple of weeks now seems to be looking back to resume its upward trend towards 1.1700 level. Break above 1.1700 level will open up 1.2000 level as next target.
On the lower side, break of 1.1500 level will confirm the reversal of trend and break traders will look to sell USDCHF. Mostly traders will look to buy around 1.1550 level with stops and reversal entry around 1.1500 level.
On the lower side, break of 1.1500 level will confirm the reversal of trend and break traders will look to sell USDCHF. Mostly traders will look to buy around 1.1550 level with stops and reversal entry around 1.1500 level.
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