This one is dragging on a bit isn’t it? Not going up, not going down. Something’s got to give eventually. Adam’s been waiting, USD/CHF goes quiet — watch it ,USD/CHF on the verge of a breakout?, and I got bored holding a long at 0.9100. I’ve just taken a small short as we fell below the 0.9080 level and ducked under the Feb 2012 support line that we last touched in Jan.
USD/CHF daily chart 27 09 2013
I’m looking to see if we get a break to the downside. I’ve stuck my stop at 0.9150. If we get US debt jitters ramping up then it could be all it needs to tip the cross over. More likely I’m going to be looking to scratch it after 5 days of watching it go nowhere.
Anyway, a trade is a trade and the strong support line is as good a place as any to trade one. I may even just throw a few trades away playing over and below the line depending on how the market feels. I still want to build some dollar longs but am still waiting for better levels.
USD/CHF: Will it make it?
