USDCHF – May 20th 2014
USDCHF – May 20th 2014
Written by: PaxForex analytics dept - Friday, 27 June 2014 0 comments
Should price action for the USDCHF remain inside the 0.8900 to 0.8940 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8930
- Take Profit Zone: 0.8710 – 0.8740
- Stop Loss Level: 0.9030
Should price action for the USDCHF breakdown below 0.8900 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: 0.8710 – 0.8740
- Stop Loss Level: 0.9030
Should price action for the USDCHF breakout above 0.8940 the following trade set-up is recommended:
- Timeframe H4
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8960
- Take Profit Zone: 0.9050– 0.9080
- Stop Loss Level: 0.8900
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
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