AvaTrader is a state of the art trading platform that can be customized to any trader’s preferences and requirements. The trading platform AvaTrader is a seamless solution to trade Forex (Foreign Currency Exchange). The software receives feeds with live streaming prices updated few times each second, allowing the trader to take advantage of those capabilities.
The dollar fell below parity with the Swiss franc in March to 0.9987 Swiss francs. Then it overcame parity with the US dollar reaching 0.9644. As the dollar sell-off joined the increasing risk aversion, the franc gained its strength as a safe-haven currency. It is quite obvious now that Asian and European market can’t be separated from US’s slide, a slow retracement from the lows in USD started. USD/CHF price action is indicating a continuation for the fledgling bullish trend. With the pair trading just days before the markets expect to see May Non Farm Payrolls get lower -52k, there is a substantial possibility that the pair will retrace lower before a topside breakout is to materialize.
Hedging Strategy
Currency Pair: USDCHF
Long Term Bias: Bullish
Long Term Position: Holding Long
Short Term Bias: Bearish
Short Term Position: Short below 1.0490, Target 1.0290, Stop-Loss at 1.0540
Traders may consider a hedge short USD/CHF below 1.0490 with a target at 1.0290. If they hit the profit target, bullish trend might resume.
03:45
Posted on Jun-06-2008
