Swissy failed at the first attempt to break above the 1.10 resistance level and retraced to retest the 1.09 support area; we have marked on the chart the two trendlines that signaled the latest move higher and also mark the closest support. For the bullish traders this is a good opportunity to enter new trades with tight stops just above the 1.09 support and a potential target above 1.1100.
Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of
leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider
your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some
or all of your initial investment and therefore should not invest money that you cannot afford to lose. You should be aware of
all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
