USD/CHF Signal Update
Last Thursday’s signals could not quite identify the turn a little above 0.9500, but was broadly correct to identify this as a key resistance level, as the price has been falling from 0.9515 or thereabouts since then.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Short Trade 1
- Short entry after bearish price action on the H1 time frame following the next touch of 0.9418.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 2
- Short entry after bearish price action on the H1 time frame following the next touch of 0.9500.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 1
- Long entry after bullish price action on the H1 time frame following the next touch of 0.9325.
- Put the stop loss 1 pip below the local swing low.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 2
- Long entry after bullish price action on the H1 time frame following the next touch of 0.9248.
- Put the stop loss 1 pip below the local swing low.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
The pair continues to range, falling from the 0.9500 area, seemingly printing new resistance at 0.9418, and respecting the support at 0.9325. So far, these levels all hold steady, and the pair continues its long-term range/consolidation pattern.
There is nothing due today regarding either the USD or the CHF.