After a pre-GDP rally in the USD/CHF, values have dropped precipitously. In fact, since the 8:30 AM EST release, price is off more than 25 pips. It appears that currency traders are breathing a collective sigh of relief on news of 4.1% GDP, not taking fresh longs in the Greenback.
Buying the USD/CHF at .9951 is a pretty good way to play a long from the daily Bollinger midpoint. Using an initial stop at .9924, this trade yields 25 pips on a sub-1/1 risk vs reward management plan. At press time, price is trading around the .9945 area. The buy recommendation is valid when price returns to the .9951 level.
Buying the USD/CHF at .9951 is a pretty good way to play a long from the daily Bollinger midpoint. Using an initial stop at .9924, this trade yields 25 pips on a sub-1/1 risk vs reward management plan. At press time, price is trading around the .9945 area. The buy recommendation is valid when price returns to the .9951 level.