USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.9418.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be made before 5pm London time today only.
Short Trade 1
- Go short if the price is below 0.9497 at 9am London time.
- 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 following the next touch of 0.9418.
- 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.
Long Trade 2
- Go long after bullish price action on the H1 time frame following the next touch of 0.9325.
- 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
The pair broke up powerfully past the resistance at 0.9418 yesterday, and this level will probably now act as support. During the Asian session, the price has also again threatened the resistance that begins close to the key round number at around 0.9500, but it is being rejected from there quite strongly at the time of writing. A fall back down to 0.9418 would not be surprising.
Regarding the CHF, there is nothing scheduled today. Concerning the USD, there will be a release of Retail Sales data at 1:30pm.