USDCHF 12-5-06

12-5-06

USDCHF

The USDCHF short trade at 1.1983 was entered on 12-4-06. The trade was exited at 1.1930. With the EURUSD and GBPUSD reverting to trading in trading ranges I decided to exit the trade as soon as the other pairs came into support. The next place I will enter a short trade will be at 1.2056. The first target will be 1.1980. That range trade may be exited at any time like the one from yesterday. Trail your stop after entry since this market is thin, and the currency funds will be taking profits during the month. That means they will buy dollars aggressively for any reason.