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 0.9500.
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 Trade 1
Short entry after bearish price action on the H1 time frame following the next touch of 0.9726.
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
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 either the CHF or the USD.