Tuesday, June 7, 2005

Signal #6-2: Closed USD/CHF at 1.2432, T/P Limit Hit

"When bond yields are so low that's going to undermine the yield advantage that investors can get from U.S. assets and therefore that paints a negative picture for the dollar.''

A positive start of this week, the USD/CHF position has eventually pull out a 30-pips profit. This position was actually opened about a week ago. The maximum drawdown of the position is nearly 100 pips! Fundamental news such as Euro referendum + non farm payrolls have basically influenced the technical (i.e. charting analysis) outlook of this position once it was opened.

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