USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.50% per trade.
Trades may only be entered between 8am and 5pm London time today.
Protect any open trades half an hour before the FOMC release.
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
This pair has been very hard to trade lately, with very dull action giving few real opportunities. We are some way from any key levels so that is likely to continue. The only new development is a minor resistant trend line not far from the round number of 0.9600. A break above both of those could foreshadow a move up to the key resistance at 0.9726.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time, followed by the FOMC Meeting Minutes at 7pm.