On a relatively weak day for the general market, we can take a look at how price action on EUR/USD played out around Pivot, and S1.
EUR/USD – Price action around key levels
Tag: forex
USD/CHF – Long Trade
This is a small long position. The premise is mostly that we are looking for a possible short term continuation of what can be looked at as a technical bounce. About 50 PIPS would be the target. Entry is .9614
EUR/USD – Moved stop to +145 PIPS
There is a less steep trendline (Red Arrow) which would be a fairly aggressive target from here.
There is a potential resistance area about 70 PIPS higher than current price (Orange Arrow)
Charts101 Trading 