USDCHF – October 7th 2014

USDCHF – October 7th 2014

Written by: PaxForex analytics dept - Tuesday, 07 October 2014 0 comments

Should price action for the USDCHF remain inside the 0.9560 to 0.9600 zone the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position 0.9580
  • Take Profit Zone: 0.8910 – 0.8950
  • Stop Loss Level: 0.9800

Should price action for the USDCHF breakdown below 0.9560 the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
  • Take Profit Zone: 0.8910 – 0.8950
  • Stop Loss Level: 0.9800

Should price action for the USDCHF breakout above 0.9600 the following trade set-up is recommended:

  • Timeframe D1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 0.9610
  • Take Profit Zone: 0.9790 – 0.9830
  • Stop Loss Level: 0.9510

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.