USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.
Protect any open trades by 6:30pm.
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
I wrote yesterday that this pair continues to be relatively quiet and nothing has changed.
It is very likely that there will be better opportunities elsewhere with other Forex currency pairs.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of PPI data at 1:30pm London time, followed later at 3:30pm by Crude Oil Inventories. At 7pm there will be the release of the Federal Funds Rate, FOMC Statement and FOMC Economic Projections, followed by the usual press conference.