Trade photo

It's another long USD trade, based on the re-pricing of FED rate expectations. I've chosen the CHF to short as the SNB remains the most dovish central bank.

It's a 20 pip stop loss, with. 20 pip profit target for a Friday 1:1 risk / reward.

The risk to the trade is heightened 'risk off' giving strength to the CHF. Also, today's PPI data is coming up and could alter the trajectory of the USD. But the forecast is for a higher number (USD positive). And I'm going out of the house shortly so I can't wait for the release.

It's also worth noting upcoming Canadian data could potentially create a CAD opportunity for anyone trading this afternoon.

Feel free to email any questions: johnelfedforexblog@gmail.com