News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Breaking news

UK's Boris Johnson Set to Resign as Prime Minister



Thomas Long, Course Instructor

When matched with the CHF with the Swiss National Bank trying to weaken their currency, you have a currency pair that is worth following for a solid buy opportunity. Here is a 4-hour chart which shows the market starting to once again print higher highs and higher lows which confirms the strong uptrend seen on the daily chart.

audchf 041510

Traders who have not yet opened a buy position have one advantage in that the recent low offers a good place for an initial protective stop. That stop could be placed at the .9761 level which means that your entry can be based on how many pips you wish to risk. Keep in mind though, that looking for a better entry might mean missing on the trade altogether. So an experienced trader would have a backup plan if the market does not retrace from here. Limit order to take profit should be twice that risk for a 1:2 risk:reward ratio.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.