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FX Nation Live Community Blog by DC Bonta

Friday November 21st, 2008

Trade of the Day

USD/CHF, Long, 1.2174-1.2200, P/T 1.2234 1.2300, Initial Stop: 20 pips from entry

The USD/CHF surged from our last support zone of 1.2100 to a high of 1.2282 yesterday. This time it may come down and test support at 1.2174-2200 which is a double zero level and weekly R2 pivot.

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Risk Disclosure

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

FX Nation Live

Friday November 21st, 2008