Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Wednesday, July 1, 2009

Trading update 7/1

There was a fairly quick run down in the EURCHF from 1.5240 to 1.5213 which prompted me to open half a long position at 1.5220. Price continued to dip to a low of 1.5199 but has recovered almost to my entry point as of now. I had posted a couple days back that a break of the 1.5200 barrier could lead to another quick 50 pips on the downside. That could still be the case, however, there seems to be support at that level right now so it remains to be seen if we'll see a solid break to the downside from here.
There is still, in my opinion, a sense of uncertainty about when or if another intervention could happen. There's the U.S. Unemployment numbers tomorrow and then the long holiday weekend here in the U.S. which does make me question whether or not the SNB could take advantage of the expected light volume on Friday to run the pair up going into the weekend.

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