USD/CHF Signal Update
Yesterday’s signals were not triggered as the price never reached 0.9657.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered 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 0.9592.
* 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
* Go short after bearish price action on the H1 time frame following the next touch of 0.9657.
* 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 did turn around and fall with some notable momentum shortly after London opened. When the lows of that swing were broken later during the New York session, it was a cue that the price was going to take a swing down. Around today’s London open the price was briefly below 0.9600 which triggered some buying interest. A look at the chart below shows there is a key flip support/resistance zone pivoted on 0.9592 and we may already have felt the effect of that.
There is nothing due today concerning either the CHF or the USD.