USDCHF looks to break to the upside
USD Index – There's nothing to indicate that the dollar bull run is coming to an end. In fact, the whole move down from Friday's high trade could be analysed at a bullish flag formation that is just about the break to the upside. We still look to focus on 96.15, the neckline of the reverse Head and Shoulders pattern.
Management and risk description
Took profit on 1 unit at 0.9734 (9 pips) meaning we run the balance with a stop at 0.9715. Worse case scenario is a -1 pip loss on the trade.
Entry: Bought 2 units at 0.9725
Time horizon: this week
— Edited by Clare MacCarthy
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