With that bounce the Swissy finds itself near the strong 1.06 to 1.0675 resistance zone. The high so far has been 1.0574. There's nothing particularly remarkable on the charts except this resistance so let's see how it does. If it successfully clears 1.0675 then resistance is at 1.0757, 1.0856 and 1.1138. Support is at 1.0600, 1.0582, 1.0525, Support is at 1.0500, 1.0461 and 1.0447.
Here's the three-hour chart:
© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.
My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.
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