USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
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 0.9928.
* 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
It has been a fairly quiet 24 hours with no important changes taking place to affect the technical picture shown in the H4 chart below.
There are still great support levels below although we are some way away from the nearest one at 0.9928. I think it would be a great area to enter a long trade as although this pair has lost a lot of momentum recently, we are still in a long-term upwards trend.
The price is currently showing a reluctance to break up past resistance which seems to kick in at around the 1.0080 – 1.0120 area. We may see a fall now back down to at least 1.0000.
There is nothing due today concerning either the CHF or the USD.