USD/CHF Signal Update
Yesterday’s signals were not triggered as the major bullish price action took place below 0.9950, and there was no bearish price action when the price reached the resistance level identified at 1.0000.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered 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 0.9950 or 0.9907.
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
Short entry after bearish price action on the H1 time frame following the next touch of 1.0000.
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
This was again one of the most strongly moving pairs yesterday, with the price making new key highs and even breaching the parity level after dipping below 0.9950 to pick up some renewed bullish steam.
The price is now falling off and the parity level is again seemingly being used as resistance for selling. At the time of writing, a further fall looks likely, with the USD considerably stronger against the Japanese Yen than the Swiss Franc.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of PPI data at 1:30pm London time, followed by Crude Oil Inventories later at 3:30pm.