USD/CHF Signal Update
Yesterday’s signals were not triggered as the bearish price action took place higher than the anticipated resistance level of 0.9750.
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 0.9725.
* Place 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.
* 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 the next entry into the zone between 0.9800 and 0.9814.
* Place 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.
* 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
Although the USD continued to strengthen yesterday, this pair found it hard to move up as there was considerable resistance at around 0.9750 or just above, however eventually the price was able to get moving again. It is probably that the next level which begins at 0.9800 will be an even harder test, so a turn could occur there, and that might be triggered by the USD news event due later.
It seems as if we have a new flipped level at around 0.9725 which could act as a Launchpad for a further upwards move.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 12:30pm London time.