Trade Setup Week 2 January 2008

Monday, January 7, 2008

For this week I would only trade on 3 pairs. They are Eur/Usd, Usd/Chf and Usd/Jpy.

Eur/Usd
At the moment is having difficulty to rise forcing for a correction soon. The trade would be to short Eur/Usd @ 1.4700 or better.

Usd/Chf
No confirmation at the moment but trade setup is close to perfect. Long Usd/Chf @ 1.1150 or better

Usd/Jpy
Currently the only Jpy pair that I would trade. No confirmation yet but if all goes well I would Long Usd/Jpy @ 109.00 or better.

As usual forex is a risky business. Protect yourself at all time. Use stop loss appropriately