USD/CHF Signal Update
Yesterday’s signals were not triggered as 0.9887 was not reached until the Asian session.
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 0.9814 or 0.9800. Also if the price is above 0.9900 at 8am London time.
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 1
Short entry after bearish price action on the H1 time frame following the next touch of 1.0000.
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
I wrote yesterday that the new support level at 0.9887 might prove to be interesting later, and at the time of writing it looks as if it is providing a key potential bullish turn point, holding the price up very precisely.
However I am concerned by possible selling at the round number of 0.9900 so I would want to see a break above that level before entering long. This might happen at 8am London time.
Apart from that, I doubt there will be any other worthwhile opportunities with this pair today.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time.