USD/CHF Signal Update
Last Thursday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken before 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following a touch of 0.9976.
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 0.9950.
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 3
Long entry after bullish price action on the H1 time frame following a touch of the bullish trend line currently sitting at around 0.9870.
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 1.0089.
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
This has been one of the most bullish pairs recently and everything is pointing to a stronger USD and a weaker CHF.
However it is notable that the strong move up in the USD received one of its strongest pull backs against the CHF. Nevertheless this morning there has been minor support at the key 1.0000 round number, although I see the real support a little below there at 0.9976.
It would not surprise me if we got a bit of a consolidation here albeit within an overall bullish framework so keep looking for longs.
There is nothing due today regarding either the CHF or the USD.