Forex Marketz Daily Forex News – Fully Markets Update
Looking at the daily on the US/Swissy (USD/CHF) we can see a continuing mid-long term trend in the bullish direction.
The currency pair is trading at 0.97045 with an average moving and midline bollinger band at the support level of 0.96505. The resistance level can be seen at as high as 0.9820. We could based on this chart see a nice investment opportunity for the same mid to long term. What, then, about day traders? What could we see on the day trader opportunity where the positions are opened and closed within the 24 hour period? Let’s investigate the hourly chart:
Notice on the above chart that the currency has had some very interesting profit-taking (or losing) opportunities. For example, notice December 4th. At 14:00, an investor could have opened a sell position at 0.97710 or higher. By 17:30 the same position could have been closed at 0.96630 or lower. That is more than 1% profit without margin within 4 hours. If the position was margined at 100:1, an aggressive investor could have realize more than 100% profit in less than a day.
The hourly chart is beneficial to see short to mid term trends but must be watched closely. All investors should continue to monitor positions and as the candles are reversing or wicks are extending should potentially challenge their positions in the market.
