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USDCHF might look to take some retrace by end of US session
Posted by Alex on January 29, 2010 · Leave a Comment
USDCHF is moving nicely in an upward trend but we might see USDCHF taking a
dip by the end of US session for monthly closings. Traders looking to buy
USDCHF might hold back a bit and let USDCHF take a dip today before buying
USDCHF for next week.
The dip might go towards 1.0430 and might even extend below 1.0400 level.
Overall scenario is still very good for buying but holding back is
suggested, one because of month closing and secondly the RSI value of USDHF
is a bit on higher side and might look to ease a bit by taking a dip today.