Forex Trade Setups – Chart of the Week Aug. 17th

USDCHF – Sub 1.0400 offers a little play
After 7 attempts, the Swissie has failed to close below 1.0371.  Several rejections below but nothing closing past.  This gives trades a cautious buy off the lows just sub 1.0400 with tight stops below the yearly low while taking half of the position off the board at the 20ema while gunning for 1.0600.  However it should be noted the pair has spent more time below the 20ema and 1.0500 than above so the pair is more interested in selling up there than buying off the lows so bulls will have to be more patient than bears but playing this little range which has held for almost two months has some good R:R available.

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