USD/CHF Signal Update
Yesterday’s signals expired without being triggered as the price never reached 0.9537.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9600.
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 0.9537.
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.
Short Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 0.9700.
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.
USD/CHF Analysis
The general bullishness has continued although it is not very strong and at the moment there is some evidence it is running out of steam and will require a bigger dip before it can continue.
A fall to the round number at 0.9600 would be a good opportunity to find a long reversal and continuation of the bullish trend. This pair has a tendency to respect round numbers.
Above, the level at 0.9700 is not a flipped horizontal level, but is a round number and after a strong run up could be expected to be resistant.
There is nothing due today regarding the CHF or the USD.