USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was an hourly candle closing some pips above the anticipated resistance level of 0.9913.
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 0.9814, 0.9800 or 0.9743.
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 1.0000.
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 has been powering upwards over the past week or so, before seeming to run out of steam in the area of the anticipated resistance at 0.9913. It may now be turning for a pullback. However there are no really attractive support levels anywhere nearby, although there may be minor support at 0.9886 and also at around 0.9840.
I feel it will be hard to rely upon resistance at 0.9913. The next push up could reach the ley psychological level of 1.0000.
There are no high-impact events due today concerning either the CHF or the USD.