USD/CHF Signal Update
Last Thursday’s signals expired without being triggered as the price never reached any of the key levels.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following a touch of 0.9625.
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.
Long Trade 2
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.
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 0.9770.
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 ride.
USD/CHF Analysis
The key levels I was identifying last week are all still there and untouched. There is a new development: a short-term bearish trend line which has just formed with a bearish second touch, is currently suggesting that the price is about to fall to at least 0.9700. It is worth noting that here has been support at 0.9650 as well as 0.9625.
Concerning the USD, there will be a release of Trade Balance data at 1:30pm London time. There is nothing due regarding the CHF.