USDCHF 2-4-07

2-4-07

USDCHF

The USDCHF breakout trade never happened early Friday morning because there were no candle closes above 1.2940 indicating a breakout area
had formed. The USDCHF found support at the 1.2376 breakout area and rallied to a high of 1.2490. If the USDCHF rallies past 1.2500, pass on the 1.2520 short trade since the areas of buyers and sellers are less than a 3 to 1 risk to reward for the trade. I will trade the 1.2460 to 1.2550 range
for next week instead.