USDCHF 11-24-06

11-24-06

USDCHF

I see an area of demand on the 240 minute charts between 1.2091 and 1.2065 that should slow the fall in the USDCHF.
I am playing the fall in the dollar with a long EURUSD and GBPUSD position. The safest place to enter a USDCHF short is 1.2221 which is a long way from here. There is a downtrend type move in the dollar over the last 36 hours, so a long trade in USDCHF is out of the question until the moving average has a chance to catch up.