USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were reached.
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 0.9640 or 0.9593.
* 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 0.9816 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
Yesterday saw this pair consolidate quite clearly, mostly just under the round number level at 0.9700. It looks as if there is minor but significant buying holding the price up at 0.9680. Significant breaks beyond either of those levels will probably dictate any direction for the rest of today in the absence of any of the key levels being reached.
There is nothing due today concerning the CHF. Regarding USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by Crude Oil Inventories at 4pm.