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.
Long Trade 1
* Long entry after bullish price action on the H1 time frame following a first touch of the upper triangle trend line currently sitting at around 1.0060.
* 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.
Long Trade 2
* Long entry after bullish price action on the H1 time frame following a first touch of the lower triangle trend line currently sitting at around 1.0030.
* 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.
Short Trade 2
* Short entry after bearish price action on the H1 time frame following a touch of 1.0250.
* 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 was looking as if it would rally further yesterday but after a couple of attempts to break up above 1.0160 there was a failure, with price again breaking down past recent lows.
The price action as usual with this pair is fairly choppy so picking turning points is usually difficult. However the logical area to look at would be the area of the triangle, which is some way below. There are two trend lines there that could still be very useful again.
Concerning the USD, there will be a release of CB Consumer Confidence data at 3pm London time. There is nothing due regarding the CHF.