USD/CHF Signal Update
Last Thursday’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 the next touch of 0.9880.
* 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.
Long Trade 2
* Go long after bullish price action on the H1 time frame following the next touch of 0.9850.
* 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 0.9988.
* 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.
Short Trade 2
* Go short after bearish price action on the H1 time frame following a touch of 1.0110.
* 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
The technical picture is quite messy although we have at least broken down past all of the trend lines. It might be that any of the trend lines could now act as resistance and it seems like the closest trend line did so last Friday. However as the picture is messy I would prefer to rely upon horizontal levels.
Although the strong upwards trend of this pair cannot be said to be in force any longer, there is no doubt that the support at around 0.9850 was very powerful when it was last tested so it may provide significant support again, although there is lots of selling pressure above.
There is nothing due today concerning either the CHF or the USD.