Trade the Markets Newsletter
by Trader Rich
Here is today’s Trade the Markets Newsletter:
The currency markets have been consolidating today with some obvious trends in place as the dollar index pushes its way higher. Cable short looks great but the play I’m taking is going long USDCHF at these levels (1.3170) and long USDJPY at these levels (117.38). For scalp trades you can use a 30 pip stop with targets at 3192-3212 on usdchf and targets of 117.80 on usdjpy. I’m looking at a longer term trade (a few days) and will be starting out with a 60 pip stop and targets of 1.3230 and 118.30 respectively.