About Currency Cross-Eyed

Currency Cross-Eyed Author

Trading currency crosses opens a whole new side of the currency markets, as different crosses possess different qualities that can suit any style of trading. Some crosses move fast and are extremely volatile with daily ranges that may exceed over 100 pips. While other crosses move relatively slow and exhibit low volatility, which is more suited for novice traders.

Latest Posts

October 2007

S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Cross-Eyeing EUR/CHF

Posted 22:45 17 October 2007 by Cyclopip

crosseyed chart

Greetings! This pair has been in a serious uptrend as the Euro has been making all time highs against the Swissy and now we have a potential Fibonacci setup in the making which should get us in the uptrend at a better price.

No major news events to worry about in the next 24 hours, so technicals should be a bigger factor. Our risk is probably going to be risk aversion, especially if equities continue to sell off and carry trade unwinds ahead of the G-7 meeting this weekend.

So, we will buy at 1.6700 (50% Fibonacci retracement area) and our stop will be just below the 61% Fibonacci area:

Long EUR/CHF at 1.6700, stop at 1.6650, pt1 at 1.6750, pt2 at 1.6800

Remember to never risk more than 1% of your account on any single trade. Adjust position sizes accordingly!

Comments Comments (0) | Email to a friend Email to a friend | Printer friendly version Printer friendly version

Comments (0)

Post a Comment

You are not signed in. You need to have a user name to post comments. Please sign in. If you don't have one yet, please register. It's free!

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

"If you don't like something, change it. If you can't change it, change your attitude."
Maya Angelou
Clicky Web Analytics