USD/CHF Signal Update
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 0.9770.
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 either 0.9845 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
We begin to see signs of the price slowly preparing to reverse to make some kind of downwards movement, although I really want to see a touch of 0.9844 before taking any short trade here.
There will probably be support at 0.9790 but the really key support level is at 0.9770.
There is nothing of high importance due today concerning the CHF. Regarding the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.