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 taken between 8am and 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9654 or 0.9597.
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
I had forecast that this pair was going to fall to the support close to 0.9650. However although it fell initially it then found support at the round number of 0.9700 before reaching there. Round, half and quarter numbers can be very powerful inflection points for this pair.
There are signs of minor support now being reached at 0.9720 so the journey down might be resumed.
Otherwise no major levels have been hit and this pair is a little boring with better opportunities elsewhere. There is no long-term trend in force really either.
There is nothing due concerning either the CHF or the USD..