USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today.
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
This pair is going nowhere, with the price stuck in a consolidation between 0.9620 and 0.9560. We are some distance away from either of the nearest key levels and it looks extremely unlikely that anything of interest is going to happen with this pair before tomorrow’s FOMC release. In the meantime, there are certainly going to be better opportunities with other currency pairs.
There is nothing due today concerning the EUR. Regarding the USD, there will be a release of ISM Non-Manufacturing PMI data at 3pm London time.