USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must only be entered before 5pm London time today.
Long Trade 1
* Long entry after bullish price action on the H1 time frame following a first touch of 0.9928.
* 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 1.0179.
* 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
This pair is often difficult to trade using support and resistance levels, and at present it looks this way. Yesterday I had identified a level at 1.0052 as resistance and it looks as if this may now have flipped to become support as it has been supportive over recent hours. There may be minor support below at 1.0000 and possibly resistance above at the double top structure at around 1.0100.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims at 1:30pm London time.