USDCHF holds 100 hour MA and pauses
Written February 19, 2010 at 2:41 PM EST by Greg Michalowski
As per the prior post, the USDCHF fell to and found support at the 100 hour MA level (see prior post). The market has paused at the level as it decides the final direction into the Friday close. Traders who are short from above (i.e. a break of the 1.0825 support or above – see earlier post) are in control as the weekend approaches. Taking profit or partial profit at the level is an option and restart on Monday. Doing so, keeps something in the game and could benefit from any weekend tension in the Middle East (should there be any). From a standing start, it is best to leave well enough alone and look for a better opportunity after the market opens.
Categories: Forex Trading | Tags: USD/CHF
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