Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken between 8am and 5pm London time today only.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9752 or 0.9727.
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 Trade 1
Short entry after bearish price action on the H1 time frame following the next touch of 0.9809.
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
We have seen a rise in this pair over recent days but this is really just due to the strength of the USD. The CHF is very stable and waterlogged lately, like its sister currency the EUR. This means that there are likely to be better opportunities trading other currency pairs; however it also means that support and resistance levels are likely to hold. The support at 0.9752 looks especially attractive, being so close to such a psychologically important numerical level.
There is nothing due today regarding either the CHF or the USD. It is a public holiday in the United States today.