Wednesday, September 9, 2009

Longed USD/CHF 104.15, watching EUR/USD 146.3

USD/CHF is at weekly support @ 1.14-1.135.

EUR/USD is coming into a resistance range. I have 1.463 marked as 61% fib and an S&R point on the weekly charts. Price may reverse now or keep moving up a little above the number before reversing. I'm long on USD/CHF now and stops are wide enough to allow some volatility...EUR/USD I'll remain patient on in case we get a higher move and will then short accordingly.