EURUSD Update:
Yesterday on the EURUSD I posted the 1.5578 area to watch for sells. The level was hit with a short spike though and has now fallen nicely to 1.5470. Where it would have been nice to take the full run our intraday target of 40 – 80 pips was met and the trade was closed with 58 pips of profit. Congratulations if you participated in this trade.
USDCHF Update:
I posted yesterdays levels on the CHF at 1.0468 and 1.0428 for bounces. We did see a heavy spike through the 1.0468 level but knowing that the potential for 1.0428 was near I placed my stops below that area. The Swiss has now moved to 1.0540. Trades taken at both of the levels have now paid our daily profit targets for 80 pips from 1.0428 and 40 pips from 1.0468 for a total of 120 pips taken.
Both of these pairs show potential for continued dollar strength and I will be watching them for new entries as the week progresses.
USDCAD:
I will be careful with this pair this week with the employment data and trade balance on Friday. If any trades are taken on this combo I will look to protect the position quickly.
Dustin
