USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at any of the levels given as anticipated support.
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 another touch of the descending trend line currently sitting at around 1.0035.
* 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 another 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.
Long Trade 3
* Long entry after bullish price action on the H1 time frame following another touch of 0.9880.
* 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 1.0110.
* 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 the bearish trend line currently sitting at 1.0171.
* 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 sharp fall in the USD yesterday had its effect upon this pair, although we seem to have found support at a previous and broken bearish trend line. However the price may well struggle to rise from here because there is both a likely flipped level of resistance not far above which is also quite confluent with the broken supportive trend line which might now begin to act as resistance.
If the USD does come back, this pair has for a while been one of the areas where a strengthening USD can be exploited, so a long trade off the trend line just below might be a good opportunity. However the area not far above might become very choppy unless the US data due tomorrow is significantly more positive than expected.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.