Thursday, May 14, 2015

USDCHF Buy Recommendation May 15th 2015

Currency Pair: USDCHF
Timeframe: Hourly Chart (H1)
Recommendation: Buy USDCHF @ 0.9130
Take Profit @ 0.9350
Stop Loss @ 0.9000


I have taken long positions in the USDCHF this morning as I think we will see a US Dollar rallying into the weekend. One part of the rally will come from economic reports released during the US morning session while the other part will come from some profit taking before the weekend.

The US Dollar could be in for some choppy trading sessions, but I do think we will see an upward bias until the downtrend can continue. Currently plenty of currencies are facing headwinds and an increase in volatility should be accounted for.

 PaxForex

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