USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were hit.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be made 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 0.9717.
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 the bullish trend line currently sitting at around 0.9640.
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 0.9860.
Place 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 ride.
USD/CHF Analysis
This pair is still bullish, although more quietly so. It was interesting to see yesterday that although the action was light, the pair did make new highs and cleared what was the next round number at 0.9800 by about 20 pips. Also, even when the GBP and to a lesser extent the EUR were rising, the CHF still weakened slightly, suggesting it is not positively correlated with the EUR at the moment.
A dip down to the key level at 0.9617 could provide a good long opportunity today.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Unemployment Claims data at 1:30pm London time.