USD/CHF Signal Update
Last Thursday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9621.
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 Trades
Short entry after bearish price action on the H1 time frame following the next touch of 0.9727.
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
This pair has been consolidating between roughly 0.9640 and 0.9680 since last Wednesday. It is possible to scalp off the ranges, especially the upper band at around 0.9680 which has been holding with greater precision. However we are right in between any real key levels, which have yet to be reached, so it is unlikely that there will be any really good opportunities here today.
The pair has been in something of a short-term downwards trend, but the 0.9500 was very crucial and the fact that it held so strongly is telling us not to be so bearish for the time being.
There is nothing due today regarding either the CHF or the USD.