USDCHF 4-18-07

4-18-07

USDCHF

The long trade from Friday's entry of 1.2085 was exited at 1.2109 yesterday morning. There was a long trade entered on the pullback to 1.2080 with a buy stop on the spike down to 1.2064. That trade was exited at 1.2090 with a 10 pip trailing stop. The USDCHF then sold down to the 1.2060 area. There are no fresh areas of demand until the USDCHF reaches the 1.1950 area, so the support areas will be speed bumps. I will short the first time back to 1.2105.