USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken before 5pm London time today.
Long Trade 1
Go long after bullish price action on the H1 time frame following a touch of 0.9385.
Put the stop loss 1 pip below the local swing low.
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 run.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.9648 and/or the bearish trend line currently sitting at around 0.9635.
Put 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 price reaches 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
The price managed to break up and settle just under the round number at 0.9600 which seems now to be acting as minor resistance. It would not be surprising, looking at the price action as at the time of writing, if the price turned around and fell from here back down to at least 0.9550.
There is likely strong resistance above beginning at about 0.9635 which would make a very attractive trade today if there is a bearish reversal there.
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.