USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken between 8am and 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9859, 0.9839 or 0.9809.
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 Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 0.9946.
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
I wrote yesterday that upwards movement looked the most probable over the short term, although the price has really more or less stood still. Although there has been a lot of selling around the round number of 0.9900, the chart below still shows the price preparing to move up, with lows holding and a bullish trend line beginning to form. There could be a fairly violent bullish breakout eventually all way to 0.9946.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Philly Fed Manufacturing Index and Unemployment Claims data at 1:30pm London time.