EURUSD currency pair was moving in a channel for some days. Today at 4AM EST, Nov.25th, German Info Business Climate Report is going to release. I looked for the report in forexfactory and the actual is greather than forecast. This is in favor of EURO so there is much probability of EURUSD pair go up. Once the currency pair crossed the upper channel line I entered the trade. Moreover I observed the 4 hour chart also. In four hour chart the bullish candlestick has clearlry crossed the trend line. Moreover in four hour chart the bollinger bands are going up and there is a very good distance between the candlestick and the upper bollinger bands upper line. The following are the hourly and four hour EURUSD charts.
EURUSD Hourly Chart:
EURUSD hourly graph crossed the upper channel line
EURUSD Four Hour Chart with Channels:
EURUSD four hour chart crossed the upper channel with clear bullish candlestick
USDCHF currency pair also moving in thrend lines for some time. The hourly graph crossed the bottom channel line with a clear and strong bearish candlestick. Moreover the four hour chart also crossed the bottom channel line with a strong bearish candlestick. And also genereally the USDCHF currency pair moves in the opposite direction of EURUSD. So I entered a short trade. The following are the pictures.
USDCHF Hourly Chart:
USDCHF currency pair clearly crossed the lower channel line with a strong bearish candlestick
USDCHF Four Hour Chart:
USDCHF Four Hour Graph Clearly crossed the lower the channel line with strong bearish candlestick
As shown in the above post I have entered the EURUSD long trade and USDCHF short trades whenever the channels were broke. The currency pairs broke the channels very nicely and reached around 80 pips maximum after they broke the channels. Since the currency pairs crossed their daily avarage and also it looks like they are reversing now. So I closed the trades each with around 50 pips profit.