Update 11/30/2006 11:35pm EST
Our trade idea from below has triggered at 1.5900 and pt1 was almost cleared at 1.5860. We may be helped with German and Eurozone Manufacturing PMI at 3:55 am EST and Eurozone Unemplyment rate at 5:00 am EST. Keep an eye out for those reports for any weakness should help push our trade on to further profitability.
Cross-Eyeing: EUR/CHF 11/30/2006 3:00 am EST
It looks like EUR/CHF is still on the rise, but slowing as it approaches the weekly trendline and the 61% Fibonacci retracement line. If the pair drops from here we will short the pair. Here’s a trade idea:
Short EUR/CHF at 1.5900, stop at 1.5950, pt1 at 1.5860, pt2 at 1.5800
If the pair continues to rise, then we can get in at a better price! Here’s a short trade idea in case the pair rises to the weekly trend line:
Short EUR/CHF at 1.5930, stop at 1.5980, pt1 at 1.5890, pt2 at 1.5850