#USDCHF Update

The swiss broke an interesting trend line today. A LONG position on the break, in the change of the direction of the move was established and target @ 100% of the average daily range was reached @ 0.8397.

Here is the chart.

Broken trend line. Position was previously (buy stop) established above the line and exactly at the change of the main move of the day. Profit taken @ 100% ADR.
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Comment by mcapitalmarkets on June 30, 2011 at 2:00pm
This pair has changed the main move of the week to up. If price closes today near the high, expect more bullish action for tomorrow as well.

More expansion upwards is expected.


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