May Trade # 9 - SELL USD/CHF

3:55 pm (Manila)

Both lots are out at +15 pips/lot for a TOTAL of +30 pips. The pair did head lower but began to encounter resistance at the 20-period MVA on the hourly chart.

Another nice trade in my book.

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3:27 pm (Manila)

Trade Details:

SELL USD/CHF @ 1.1077
Stop - 1.1100
Limit 1 - 1.1057
Limit 2 - 1.1037

A bit of a good news for the Swiss economy as year-on-year Retail Sales printed better than expected (+1.2% actual vs. -2.2% forecast). I expect this to be bullish for the Franc and send the pair lower.

Retail Sales is a component of GDP, one that is tied directly to consumers and consumer spending (which is a huge chunk of GDP). The expectation is that better Retail sales will contribute to better GDP later on which is good for the currency.