USD/CHF Signal Update
Last Thursday’s signals were not triggered and expired.
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
Long entry after bullish price action on the H1 time frame following a touch of 0.9800.
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 1.0000.
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 CHF has been more or less the weakest currency of all over recent weeks but this may be changing as we did not get a bullish bounce at 0.9870. It seems likely that this pair will now continue to fall to the round number at 0.9800 where it will probably find some support, although this might well not happen today unless the US data due after New York opens later is very poor.
Regarding the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time. There is nothing due concerning the CHF.