USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no bearish price action at 0.9600.
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 0.9600 or 0.9500.
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 Trades
Go short after bearish price action on the H1 time frame following the next touch of 0.9688 or 0.9742.
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
There have been some fairly strong movements over the past few days in the Forex markets but this pair has remained relatively quiet, just strengthening a little towards the end of the week as the USD strengthened generally, breaking up above the previous resistance at 0.9600.
The price has been contained by 0.9658 which might still hold. However as the price has been very close to this level I would prefer to look for shorts from possible reversals above that level, at 0.9688 or 0.9742 instead.
There is nothing due today concerning either the CHF or the USD.