USD/CHF Signal Update
Yesterday’s signals were not triggered as the price never reached any of the key levels.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered between 8am and 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following a touch of 0.9976.
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.
Long Trade 2
Go long after bullish price action on the H1 time frame following a touch of 0.9950.
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.
Long Trade 3
Go long after bullish price action on the H1 time frame following a touch of the bullish trend line currently sitting at around 0.9890.
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 1.0089.
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
I wrote yesterday this pair would probably go nowhere and this is exactly what happened. The CHF has stabilized and the USD has been quiet ahead of key news.
The technical picture and all the key levels remain the same so this pair could become interesting to trade after the USD news release shortly after the New York open.
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, followed at 2:30pm by the Chair of the Federal Reserve speaking at a conference.