USD/CHF Signal Update
There are no outstanding signals.
Today’s USD/CHF Signals
No signal is given today.
USD/CHF Analysis
I wrote yesterday that a long breakout play is possible should the price make a sustained break above 0.8800. This is exactly what happened yesterday. The CHF made a strong move down and has broker past what seemed to be obvious possible turning points at 0.8900 and 0.9000. The price is now above 0.9000 and is only above 100 pips below the high that was made on the first pull back in the hours following the removal of the EUR/CHF peg by the SNB. That level, which is 0.9130, may prove to be resistant, but is completely untested.
We are too far from likely flipped resistance to support to realistically look for a long trade there. It could be possible to look for a short at 0.9130, but only if the turn happens early in the New York session, and it would be a very speculative trade.
Therefore no signals are given today and it is still a good idea to watch and wait what happens to the CHF.
There are no high-impact data releases scheduled today concerning the CHF, but there are regarding the USD. At 1:30pm London time there will be a release of U.S. Core Durable Goods Orders data followed by CB Consumer Confidence and New Home Sales at 3pm. Therefore the most volatile time is likely to occur during the New York / London overlap.