USD/CHF Signal Update
Yesterday’s signals were not triggered, with the possible exception of a long at 9am London time which would have been a losing trade.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9580 or 0.9500.
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 0.9621 or 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
The price rejected the support at 0.9621 at the London open and actually held up for a few hours, unlike a lot of other currency pairs where the USD was immediately and sustainably weak. Finally there was a strong move down against the USD, then later some recovery, and the major technical change is that it looks likely that 0.9621 will have flipped from support to become new resistance.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.