USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered between 8am and 5pm London time today only.
Short Trade 1
* Go short after bearish price action on the H1 time frame following a touch of 1.0050.
* 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.
Short Trade 2
* Go short after bearish price action on the H1 time frame following a touch of 1.0091.
* 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.
Long Trade 1
* Go long after bullish price action on the H1 time frame following a first entry into the zone between 0.9851 and 0.9835.
* 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.
USD/CHF Analysis
Since this week opened this pair went up a little bit, then down a little bit. The movements are not tiny and are fairly respectable but we remain some distance from any key levels either above or below so this pair is probably not going to be very interesting to trade for a while.
It is interesting and potentially significant that the Euro and Swiss Franc are not weakening quickly following their sudden move up last Thursday. This is suggesting that the strong weakness that was seen in these currencies is not going to resume any time soon, with the weakest currencies probably now being the British Pound and commodity currencies (especially the Australian dollar).
There is nothing due today regarding the CHF or the USD.