USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9853.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may be entered before 5pm London time today only.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9800 or 0.9756.
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 Trade 1
Short entry after bearish price action on the H1 time frame following the next touch of 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
We have reached an interesting situation, with 0.9854 having flipped from support to become resistance, and the bullish trend line just about holding but looking under some strain. It is very hard to say what will happen next, as this pair has no long-term trend and looks to be running out of bullish momentum.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of PPI and Unemployment Claims data at 1:30pm London time.