USD/CHF Signal Update
Last Thursday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must entered between 8am and 5pm London time today only.
Long Trade 1
Long entry after bullish price action on the H1 time frame following a touch of 0.9550.
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
Long entry after bullish price action on the H1 time frame following a touch of 0.9500.
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
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 0.9720.
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 price reaches 20 pips in profit and leave the remainder of the position to rides.
USD/CHF Analysis
The price pulled back and got very close the bearish trend line before falling quite sharply again, and breaking through previous support at around 0.9650. This level is now likely to act as resistance going forward. There is probable support below at 0.9550.
There are no high-impact releases due today concerning either the CHF or the USD. It is a public holiday today in the USA.