USD/CHF Signal Update
Yesterday’s signals were not triggered and expired as the price has not reached 0.9850.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.
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.
Long Trade 2
* Long entry after bullish price action on the H1 time frame following a first touch of 0.9800.
* 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 forecasted yesterday that we seemed to be heading back down to the support at 0.9850 and we did indeed dip down to a price close to there before rising quite directly during recent hours. The level at 0.9940 is proving to be a hurdle that the price is finding tough to cross however. Nevertheless, the longer we can remain above this 0.9850 / 0.9800 area, which seems to be extremely pivotal, the more likely a strong eventual upwards move will arrive.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.