USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9800, 0.9756 or 0.9726.
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 0.9862 or 0.9894.
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
Although the CHF has been fairly weak, the risk on rally of recent days has seen this pair demonstrating an inability to rise above the nearest resistance level at 0.9862. The price action has also formed a bullish ascending channel and it looks as if that is going to break down, which would suggest a fall to 0.9756. However it looks as if the round number at 0.9800 could also see support, so a breakdown could be a messy trade above that number.
There is nothing due today concerning either the CHF or the USD.