USD/CHF Signal Update
Yesterday’s signals expired without being triggered as none of the key levels were ever reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9640.
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
The price is just ranging weakly slightly under the resistance level of 0.9816. The action is not suggestive of good trading opportunities or indeed any possible strong bearish reversal of 0.9816. Any good opportunities in the Forex market probably lie elsewhere today.
There is no long-term trend in this pair. The action is generally choppy and consolidative.
Regarding the USD, there will be a release of ISM Non-Manufacturing PMI data at 3pm London time. Concerning the CHF, the Chair of the SNB will be speaking at 5:15pm.