We have seen this pairing break above the descending trend-line that began to form on 9 Oct after bouncing above the strong support level at 0.985. We are now very bullish on this pairing and are going to place a long. We will wait to see if this breakout retraces to the aforementioned trend-line before opening any positions.
The US market has regained a percentage of its losses from last week - This could reinstall investor confidence in the US markets, further boosting the dollar and reducing the demand for a safe haven (Swiss Franc).
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. Stick to your trading plan, no matter the market conditions.
If you stick by a smart trading plan you can substantially reduce your exposure to losses - however you can never 100% avoid a loss in trading. It will always be a risk no matter your luck, skills and discipline.
The US market has regained a percentage of its losses from last week - This could reinstall investor confidence in the US markets, further boosting the dollar and reducing the demand for a safe haven (Swiss Franc).
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. Stick to your trading plan, no matter the market conditions.
If you stick by a smart trading plan you can substantially reduce your exposure to losses - however you can never 100% avoid a loss in trading. It will always be a risk no matter your luck, skills and discipline.
Trade closed: target reached:
I have made a nice amount of profit on this trade idea - I will now close this position.