Monday, May 16, 2011

Trade Idea Wrap-up: USD/CHF – Sell at 0.8905



Dollar’s intra-day selloff has dampened our previous bullishness and signals recent upmove has formed a temporary top at 0.8947 last week, hence consolidation with downside bias is seen for a test of 0.8797-98 (38.2% Fibonacci retracement of 0.8554-0.8947 and Friday’s low), break there would add credence to this view, bring

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