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 0.9650, 0.9622 or 0.9600.
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 0.9774, 0.9800 or 0.9814.
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
It looks as if the upwards move continues in line with the strong momentum established last week, with the round number at 0.9700 acting as minor support. There are stronger levels further below. 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.
The round number at 1.2900 may act as minor support.
There are no high-impact events due today concerning either the CHF or the USD.