Time to reassess
- Decided to take profit on the USDCHF trade today at 0.9925 and 0.9965
- As per previous updates(please follow the links) , I’ve been trading it lately between 0.9925 and 0.9880
- I am falling a bit short of the final targets at 0.9990( fib extension) and 1.0020, but the EURCHF is showing cracks after the past weeks of support , coming down from over 1.17 to below 1.1650 writing this, risking a false break through the resistance line @ 1.1680.
- In the meantime EURUSD is coming close to supports at 1.1680 and 1.1660 and EURJPY fails to hold the rallies as well.
- And last but not least , the trade finally made 230 points on the original entries, jobbing included plus10 days of positive carry from initiation.
- I will reassess if we come back down to 0.9880 support or on a break of 1.0025