USD/CHF Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.50% 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 0.9850.
* 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
* Go short after bearish price action on the H1 time frame following the next touch of the trend line currently sitting at around 1.0083.
* 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 only real change from my previous forecast is that the 0.9950 level did indeed break down, as I predicted, and has been removed as a horizontal level from my chart below. The pair is in between trends and is responding really well to support and resistance levels, especially when they end in .50 or .00.
There is quite likely to be support at 0.9900 and resistance at 1.0000 both of which occur before my key levels.
There is nothing due today concerning either the CHF or the USD.