USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
* Go long after bullish price action on the H1 time frame following the next touch of 0.9592.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 1
* Go short after bearish price action on the H1 time frame following the next touch of 0.9657.
* Place the stop loss 1 pip above the local swing high.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
This pair had looked poised to fall further yesterday as London opened, but found strong support with relatively heavy buying just below 0.9600 which has been something of a pivotal level over recent weeks. This pair tends to respect round, half and even quarter numbers in general.
With the USD recovering, the price has now risen and looks poised to test the swing high at 0.9648 and the resistance level a few pips above that at 0.9657.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.