USDCHF Daily Trendline long

Randy BalcomTrades

USDCHF Daily Long Trade

Here is the rational for this trade:

On the weekly chart we are nearing an area where there are 2 overlapping Dynamic Levels.

This typically supplies support

(See blue arrow)

 

On the daily chart, there is a potential trendline long trade above .94282 (See arrow)

The trade would be an entry above .94282 with a stop below .92873 and a target of .95784

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.