USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
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
This pair is relatively quiet and dull. Although the USD has been going up generally, it has actually been falling against the Euro and the Swiss Franc – these two currencies are highly positively correlated these days.
I still think this could be a good long-term buy but I suspect we would need to fall back to at least 0.9928 before the price is going to take off anywhere. The support at 0.9850 to 0.9800 is extremely crucial and marks the real battleground between the bulls and bears here.
Concerning the USD, there will be releases of Building Permits and CPI data at 1:30pm London time, followed later by Crude Oil Inventories at 3:30pm. There is nothing high-impact due regarding the CHF.