USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9743 or 0.9650.
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 Trades
Short entry after bearish price action on the H1 time frame following the next touch of 0.9800, 0.9814 or 0.9913.
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
The CHF has been weak and we see this pair still advancing. In fact the price has broken through a resistance level and seems to have possible established new support at 0.9769, but we are so close to that level as at the time of writing that I would not look to use that level at the current time.
It is going to get very interesting if we hit the 0.9800 / 0.9814 area as this is very strong resistance. It is still worth watching out for a bearish turn here, as this pair is still in a long-term downwards trend.
There are no high-impact events due today concerning the CHF. Regarding the USD, there will be releases of CPI and Building Permits data at 1:30pm London time.