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USD/CHF Heads For Support
By Benny Nardino | June 3, 2008
The swissy, USD/CHF headed south at the blast of the bell on the European session this morning. London began the day on this pair at about the 1.0338 mark and rising a few pips to 1.0348 level. But soon became bearish (sellers market), as gold prices gained strength.
The pair is currently trading 1.0275, but we see a possible 1.0240/255 support before any significant bounce. At the moment we are still locked in because we took a position on Friday and +115 pips up.
However, between these two level of 1.0275 and 1.0255 exists a small window of opportunity. On the contrary, if you decide taking an entry ensure to time it properly using your technical indicators with an eye on the gold market too. There are significant correlations.
Have a great day of trading.
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