USD/CHF Signal Update
Yesterday’s signals were never triggered as the price did not reach 0.9600.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of the bullish trend line currently sitting at around 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 run.
Short Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 0.9717
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
This pair has been trending upwards and still has a bullish trend line intact that has held for a couple of weeks. However there are signs that this move may be topping out close to the three month high a little way above 0.9700, so we may be due a pull back to 0.9600 at least. The price has been falling during late Asian session trading.
There is nothing due today regarding either the CHF or the USD.