USD/CHF Signal Update
Last Thursday’s signals were not triggered as none of the key levels were reached that day.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9735 or 0.9711.
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 Trades
Go short after bearish price action on the H1 time frame following the next touch of 0.9777 or 0.9816.
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
The end of last week saw a meaningful recovery in this pair as the USD bounced back. We have what look to be reliable support and resistance levels on both sides of the price, and as this pair is essentially trendless, this may provide some small but reliable opportunities to trade reversals there.
There is no high-impact news due today concerning either the CHF or the USD.