USD/CHF Signal Update
Last Thursday’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 0.9580 or 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
Short entry after bearish price action on the H1 time frame following the next touch of 0.9622, 0.9650 or 0.9695.
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 fell quite strongly during the final days of last week. There is a very interesting support level below at 0.9580 which has been key over recent weeks, but it looks as if we might already have had a bullish bounce here. Nevertheless, another fall and bounce off the level should be interesting for a long trade.
There are several resistance levels above. The level at 0.9650 looks especially interesting as round, half and quarter numbers tend to be very well respected by this pair.
Regarding the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time. Concerning the CHF, the Chair of the SNB will be speaking at 5:30pm.