USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9880.
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
The picture stays very much the same with this pair: a bullish kind of consolidation and very slow upwards move, but not in a hurry to get anywhere. In fact it has been selling off at 0.9950 but the supportive area from about 0.9880 to 0.9900 or so continues to hold. So far, it has been more productive to hold a bullish bias until there is a reason to change that.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of ISM Manufacturing data at 3pm London time.