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ForexPros Daily Analysis July 13, 2011
Free webinar on ForexPros - High Performance Trading for a Busy Lifestyle
Expert: Travis McKenzie
Start: Mon, Jul 18, 2011, 13:00 GMT
End: Tue, Jul 19, 2011, 14:00 GMT
Travis McKenzie will demonstrate the trading strategies and techniques he uses on a daily basis to fit trading into a busy lifestyle. He will discuss in detail his Precision Lifestyle Strategy which is a simply but extremely powerful combination of technical analysis tools which can be applied to any market and any timeframe. He will also dispel the myth that you can't earn a full time income from part time trading.
Click here to join free
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The reversal in the CHF is working perfectly
The reversal in the Swiss, which I analyzed here, last week, is working perfectly. In spite of the strengthening of the USD against most of the major currencies, the Swiss is keeping its power, and it would have got even stronger if the US stock markets did not slide.
The reversal idea was brought up when the Swiss traded at 83.5, and the main goal was getting down to the historical low at 82.70, which the CHF eventually did. The question now is whether going in under that support or wait for correction up and another reversal. There are several approaches for this kind of situation, but I believe that it is dangerous to go into the market in extreme points, so you have to be careful.
Those of you who want enter the market in spite of the above, have to constantly monitor the trade, and choose an appropriate size for the current trading conditions. This pair has never traded under the support at 82.7, so it is difficult to point out a significant support under it. Therefore, the round number of 81.0 might be the level in which buyers will go in again.
*The reversal in the GBP/CHF from last week works even better and gained more than 200 pips so far.
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Forex Trading analysis written by Bastian Rubben for Forexpros.
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Visit Forexpros new Stock Quotes Section and our Eur Usd Forecast system.
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Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Free webinar on ForexPros - High Performance Trading for a Busy Lifestyle
Expert: Travis McKenzie
Start: Mon, Jul 18, 2011, 13:00 GMT
End: Tue, Jul 19, 2011, 14:00 GMT
Travis McKenzie will demonstrate the trading strategies and techniques he uses on a daily basis to fit trading into a busy lifestyle. He will discuss in detail his Precision Lifestyle Strategy which is a simply but extremely powerful combination of technical analysis tools which can be applied to any market and any timeframe. He will also dispel the myth that you can't earn a full time income from part time trading.
Click here to join free
---
The reversal in the CHF is working perfectly
The reversal in the Swiss, which I analyzed here, last week, is working perfectly. In spite of the strengthening of the USD against most of the major currencies, the Swiss is keeping its power, and it would have got even stronger if the US stock markets did not slide.
The reversal idea was brought up when the Swiss traded at 83.5, and the main goal was getting down to the historical low at 82.70, which the CHF eventually did. The question now is whether going in under that support or wait for correction up and another reversal. There are several approaches for this kind of situation, but I believe that it is dangerous to go into the market in extreme points, so you have to be careful.
Those of you who want enter the market in spite of the above, have to constantly monitor the trade, and choose an appropriate size for the current trading conditions. This pair has never traded under the support at 82.7, so it is difficult to point out a significant support under it. Therefore, the round number of 81.0 might be the level in which buyers will go in again.
*The reversal in the GBP/CHF from last week works even better and gained more than 200 pips so far.
---
Forex Trading analysis written by Bastian Rubben for Forexpros.
---
Visit Forexpros new Stock Quotes Section and our Eur Usd Forecast system.
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
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