USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9650.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9500.
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 touch of 0.9726.
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
There was an early break below 0.9650 which finally confirms this pair in a serious long-term downwards trend. However there has been a large pin candle suggesting a deeper pullback may be about to happen before the price moves down much further. The level at 0.9650 has been invalidated so I do not see any key levels anywhere between 0.9500 and 0.9726. As neither of these levels are likely to be hit today, there are almost certainly better opportunities elsewhere.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims at 3:30pm London time.