USD/CHF Signal Update
Yesterday’s signals expired without being triggered as there was no bearish price action at 0.9500.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Go long after bullish price action on the H1 time frame following a touch of 0.9500.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 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 a touch of 0.9384.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 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 a touch of 0.9580.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Go short after bearish price action on the H1 time frame following an entry into the zone between 0.9675 and 0.9700.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
Yesterday saw a moderate and orderly upwards move that continued all day. The pair sold off a bit overnight and at the time of writing has not been quite able to break yesterday’s high. The notable development was the clean break through and above the psychologically key 0.9500 level, which has probably now flipped from resistance to support.
There is nothing concerning the CHF due today. Regarding the USD, there will be a release of Preliminary GDP and Unemployment Claims data at 1:30pm London time.