USD/CHF Signal Update
Last Thursday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trade 1
* Go long after bullish price action on the H1 time frame following a first touch of 0.9928.
* 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 1.0179.
* 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
Since my last forecast on Thursday we have had a sharp fall followed by a rally. The fall did not reach the anticipated support but instead got a bounce off minor support at 0.9960. Although the USD is fairly strong and this pair remains in an upwards trend with major support holding, it still does not feel like it is really going to take off. A further fall to the key support levels below could still be a good opportunity to get long for the longer term, however.
There is nothing due today concerning the CHF. Regarding the USD, it is a public holiday in the USA today.