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 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 0.9647.
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 0.9728, 0.9770 or 0.9798.
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 fairly quiet yesterday.
The picture looks more bearish, with the price forming a double top at 0.9700 and then printing a lower high afterwards. It looks as if the price will now test at least 0.9663 and then quite possibly the support level beneath that at 0.9647 which could see a major bullish reversal, so that is a level to watch closely.
There is nothing of high importance due today concerning either the CHF or the USD.