USDCHF – June 2nd 2014

Should price action for the USDCHF remain inside the 0.8970 to 0.8990 zone the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.8980
• Take Profit Zone: 0.8930 – 0.8950
• Stop Loss Level: 0.9010

Should price action for the USDCHF breakdown below 0.8970 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 0.8930 – 0.8950
• Stop Loss Level: 0.9010

Should price action for the USDCHF breakout above 0.8990 the following trade set-up is recommended:

• Timeframe H1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.9000
• Take Profit Zone: 0.9060 – 0.9080
• Stop Loss Level: 0.8970

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

You may also be interested in reading the following posts:

• USDJPY – May 30th 2014
• Gold – May 29th 2014
• EURUSD – May 28th 2014
• The role of indicators in the Forex market
• How can you create a forex trading plan?