USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9650, 0.9622 or 0.9600.
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 Trades
Go short after bearish price action on the H1 time frame following the next touch of 0.9774, 0.9800 or 0.9814.
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
I wrote yesterday, and the situation has not changed, that it looked as if the upwards move was continuing in line with the strong momentum established last week, with the round number at 0.9700 acting as minor support. It is hard to see this reversing until the price reaches at least 0.9750 which is a key psychological number, although it is not until around 0.9775 and above that the resistance starts to look really strong.
There are no high-impact events due today concerning either the CHF or the USD.