USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
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 remains very hard to trade, with very dull action giving few real opportunities. Even after yesterday’s FOMC Meeting Minutes release, no key levels were hit. The chart just does not look tradable to any meaningful extent. There are much better opportunities elsewhere such as the positively correlated EUR/USD which covers more or less the same ground as this pair.
Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time. There is nothing due today concerning the CHF.