Currency Pair: EUR/CHF
Entry Zone: Go both long and short at the market if the price is at any level within the 1.63-1.67 range
Protective Stop: Long stop below 1.60 and short stop above 1.70
Profit Target: Long Target at 1.67 and Short Target at 1.63
Profit Potential: 400 pips (excluding transaction costs and slippage)
The EUR/CHF is our primary target for hedging in the week ahead, with clear range-bound trade and concrete support and resistance levels. To hedge, go both long and short at the market if price stays within the above Hedging Zone. Take profits at R1 for longs and at S1 for shorts, covering losses above R2 or below S2.
The most effective way to capitalize on currencies pairs that are trapped in tight ranges is through the use of hedging. The hedging feature is currently available on all accounts using FXCM’s No Dealing Desk service. For more information on FXCM hedging strategies please visit http://www.fxcm.com/hedging.jsp
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