USD/CHF Signal Update
Last Thursday’s signals were not triggered as none of the key price levels were reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken from 8am to 5pm London time today.
Long Trade 1
* Go long after bullish price action on the H1 time frame following the next entry into the zone between 0.9850 and 0.9800.
* 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
* Go short after bearish price action on the H1 time frame following the next entry into the zone from 0.9980 to 1.0025.
* 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
The price has got to within 10 pips or so of 0.9980 over the past few days and we can see that it has been falling from there quite quickly. Another push up into that area should reach key resistance with a whole confluence up there between 1.0000, 0.9980 and three important trend lines and give a good short trade opportunity which looks as if it will reach 0.9850 at least.
We will probably have a battle between 1.0000 and 0.9850 over the coming days.
There is nothing due today concerning either the CHF or the the USD.