USD/CHF Signal Update
Last Thursday’s signals expired without being triggered as none of the key levels were reached.
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 first touch of 0.9850.
* 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
* Go long after bullish price action on the H1 time frame following a first 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 run.
Short Trade 1
* Go short after bearish price action on the H1 time frame following a touch of 1.0051.
* 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 trade is 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
This pair has been relatively quiet for the past few days after having been squeezed between resistance above the parity level and support at around the 0.9800 to 0.9850 zone.
It is hard to say whether the bulls or bears are going to win here over the short term. If I had to take a position, I would be slightly more bullish than bearish, in that I do believe that 0.9800 is going to hold and be very solid.
Nevertheless there are probably better opportunities elsewhere.
There is nothing due today concerning either the CHF or the USD.