Pick of the Day: USD/CHF

Good morning! We’re about to see US Existing Home Sales report released at 10:00 am EST, with a consensus of about 6.260 million. We saw a rise in January and December, but because of the colder weather some parts of the country experienced in February I think we will see a drop in todays number. To play this idea we will trade the USD/CHF.

Short USD/CHF at 1.2080, stop at 1.2120, pt at 1.2040

Please remember to never risk more that 1% of your account on any single trade, so please adjust your position sizes accordingly.

Good luck and good trading!