USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bearish price action at 0.9930.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered 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 0.9756.
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 0.9946 or 1.0000.
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 very bullish, but the FOMC sent it crashing back down. At the time of writing the price is even testing the support at 0.9844 from where the original strong launch upwards began.
There is a short-term bullish trend over recent weeks, so we might expect more opportunities at support then resistance. Unfortunately there are no key levels before the 0.9750 area – which should be strong. However there may be minor support at around 0.9822.
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.