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Currency Trading Commentary:23 May

May 23, 2012 By admin Leave a Comment
Currency Trading Commentary:23 May

Currency Trading Commentary:23 May

The bias for the GBPCHF is bullish.

The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which is positive.

We note that the price action recently broke out above a previous swing high created in January this year and has since been back to retest and confirm this region as support through 1.4800-20.

Provided there is some follow through buying, we will be happy to be buyers.

Traders can consider on stop buy orders at 1.4970, with stops placed 100 pips below entry

Filed Under: FX Training, Trade Currency Pairs

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