USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered from 8am to 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9726 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 Trades
Short entry after bearish price action on the H1 time frame following the next touch of 0.9854 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
There has been no real change to the technical picture over the past 24 hours.
The lower supportive trend line is just an illustration, I do not expect it to work as a real trend line.
The horizontal support and resistance levels remain key.
The pair has no long-term trend, much like its sister pair EUR/USD, although it is a little more active than EUR/USD.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.