USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no bearish price action at 0.9845.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken between 8am and 5pm London time today only.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 0.9640.
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 0.9816 or 0.9894.
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 has gone a little against the general flow of the market over recent days, with the CHF strengthening against the USD. It is not a big surprise that the price could not rise up past the strong resistance level at 0.9894. We have another bearish sign which may be seen in the chart below: new resistance at 0.9816.
There is no long-term trend in this pair. The action is generally choppy and consolidative.
There is nothing due today concerning either the CHF or the USD. It is a public holiday in the U.S.A.