USD/CHF Signal Update
Yesterday’s signals were not triggered as the price never reached either 0.9338 or 0.9550.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be made before 5pm London time.
Short Trade 1
Go short after bearish price action on the H1 time frame before the next hourly close above 0.9550.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long after bullish price action on the H1 time frame immediately following the next touch of 0.9338.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
This pair moved very little yesterday, in line with most of the Forex market.
The technical picture is completely unchanged, although the resistance level I had initially identified at 0.9522 is looking increasingly like it may hold after all.
There are no high-impact events scheduled for the CHF today. Regarding the USD, at 1:30pm London time there will be a release of U.S. CPI and Unemployment Claims data.