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
It is possible to go long right away if the price is just a little above 0.9850 as this level is expected to be supportive and the price is currently basing there.
Long Trade 2
* Long entry after bullish price action on the H1 time frame following the next touch of 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.
Long Trade 3
* Long entry after bullish price action on the H1 time frame following the next touch of 0.9739.
* 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 0.9988.
* 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 USD has become very weak, and while the CHF is not a very strong currency by any means, it is still considerably stronger than the USD.
This pair is at a very critical price at the time of writing. 0.9850 has acted as major support and resistance over recent months and we are currently threatening to break below it. If we get a bullish bounce here it could be significant, although at the moment a continuing break down seems more likely.
There is nothing due today concerning either the CHF or the USD.