USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9600.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9500.
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 0.9600, 0.9658 or 0.9688.
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
This pair was already looking bearish both in the short-term and over the long-term. Now it looks even more bearish as the price sliced through the anticipated support level at 0.9600 very easily. If sentiment on the USD does not change, it looks all set to continue downwards to 0.9500 which as a key psychological round number is likely to be much harder to break.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.