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
* Long entry after bullish price action on the H1 time frame following a first touch of 0.9850.
* 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 ride.
Short Trade 1
* Short entry after bearish price action on the H1 time frame following a touch of 1.0051.
* 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 trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
I wrote yesterday that if we could break up past 0.9920 we would have a good chance to hit 1.0051. the level at 0.9800 held and we did in fact break up past 0.9920 so it seems we are now heading towards 1.0051, although at the time of writing the price is running into some resistance at a previous week’s close at around 0.9950 so the easiest part of this upwards leg may well already have happened.
The area around 1.0025 will probably also provide some resistance.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of the Philly Fed Manufacturing Index and Unemployment Claims data at 1:30pm London time.