Ramblings for the day..

USDCHF turned out to be false call but thankfully, something did not seem right to me in the morning and so i had closed my position for 4 pip profit...The crosses seemed to be on fire today which each of them making historic highs. There did not seem to be any fundamental reason behind it though. The weekend would be interesting though with few meetings scheduled. Moreover, the crosses have had many consecutive up days without any major correction so far and so this raises the risk level of longs a bit.

But so far, things seem excellent for the longs and those who entered at the right time should be sitting on huge profits by now. As i said, there are some meetings scheduled for the weekend and we need to see whether the crosses are mentioned in any of the meetings.

Another curious thing that has happened is that almost all the stock exchanges are down today (Chinese, Japanese, London and USA as of this writing) but still the crosses do not seem to be bothered at all and they keep rising. Few weeks back, they were mirroring the movements of the stock exchanges and even a small fall in the Dow jones would get reflected in the crosses. But nothing seems to have shaken them today. Very surprising indeed. Anyway, next week is another new week. Lets see things happening over the weekend and lets get ready for the next week.

I will try and write some more articles over the weekend to entertain the visitors over the weekend.

Happy Trading!!