USD/CHF Signal Update
Last Thursday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered from 8am New York time until 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9725.
Put 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.
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 the next entry into the zone between 0.9800 and 0.9814.
Put 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.
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 been drifting upwards slightly, in line with the line of least resistance following a recent basing off fresh flipped resistance to support at 0.9725. The first serious test of this drift is likely to come at 0.9800.
The pair is in a medium-term downwards trend but over the longer term it is really ranging. The picture would change to a more serious downwards trend below 0.9650.
There is nothing due today concerning either the CHF or the USD. It is a public holiday in Europe.