USDCHF has made steady progress north for the last 24 hours but has now hit the top of the existing channel. With RSI readings becoming stretched, the signs are that this channel may hold the price and we'll see a move south. USD/JPY has sold off steadily for the last 2 hours and possibly USD/CHF will try and catch up. I'm in at .9759 with a STOP above the channel at .9780 and a TAKE PROFIT at .9700. As ever I'll lock in a break even trade if we drop 25 pips.
Trade active:
STOP now at just a bit better than break even
Comment:
STOP moved to .9725 +34. Moving the take profit down and watching for any signs of a reversal
Trade closed: target reached:
STOPPED out at .9725 for +34