From the picture, the red candlestick failed to closed below the 21-EMA curve(may not be clearly visible in the picture) and that signified that the trend could remain bullish. The blue candlestick which closed above the 144-EMA curve confirmed the trend. We shall look for a trade entry next week.
Currently I have placed two bets at BetOnMarkets as shown in the picture above. Time will tell whether I can claim the payouts. The returns are high and hence the risk for buying the bets are worthwhile. For those who are actively engaged with HYIP developments, BOM is considered a reliable hyip i.e. they are not a scam. People who do not know a thing about FX may find BOM attractive. :) 
There is a profit of 30 pips for the USD/CHF pair bought yesterday. The unexpected reversal(as shown by the long red candlestick in the picture) in trend caused the stop-loss limit of 1.2900 to be exceeded. It's a pity that I do not close the trade at 1.2950 which translated into another 50 more pips in profits. However, we shall wait for another setup to go for big profits. Overall, the trend remains bullish and the breakout could be fake. We shall know the trend once the subsequent candlesticks managed to close above the 144-EMA curve which is the current resistance level for the pair.I am still a novice FX trader. The purpose of FXpress is to track my FX trading activity and show readers how leveraged funds coupled with effective risk management and good technical analysis can secure above average returns. I will mainly focus on USD/CHF pair because it is probably the best trading pair in the market today due to its high volatility and liquidity.
I would also focus on EUR/USD since it shares a high negative correlation with USD/CHF which means that when EUR/USD goes down, USD/CHF would go up. BTW, currency pairs do not move in isolation.
This is the first trade update for this week. Have done some finetuning to my trading system so that it can be more responsive to sudden reversals in trend. Started a long trade for 9780 units of USD/CHF pair. There is an initial profit of 27 pips for this pair. USD/CHF has been in downtrend for a couple of days before a breakout (shown as the long blue stick with a upper long tail) marked the end of the downtrend. Let's see how many pips can be earned from this trade. 
