Trade Ideas

USD/CHF: Might be worth a risky long near current levels?

     There are two lines of support just below present levels and this pair looks like a good risk-reward play. Obviously there will be stops just below the market but nevertheless this pair could easily turn and join USD/JPY on the bull train, if real money players do start to buy in earnest.

Definitely its risky being long USD and short CHF whilst the fiscal cliff negotiations are on-going so keep stops tight if venturing into bull territory.

  1. fwiw my assessment now is to buy further dips
    (for me every 25 pips) s/l 0.9617 and looking for a serious extension to test 1.0330-50….I will reassess if fridays close looks miserable…and audusd 1.08ish and usdchf @ 9500 ish ? =…….it’s not a day trade…

  2. well my original target was a test of 9900 and we haven’t got there yet but constructively with the way the market feels to me that a lot of non-believers of the others, eg yen weakness, swiss weakness, euro and aussie strength particularly, will now come home to roost…..can’t see the aussie coming down in the near future until the market starts to get excited a good bit higher up and the RBA start to mutter as you have alluded to

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