USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9727.
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
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 0.9760.
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 pair continued its strong downwards movement yesterday, although there have been signs of it slowing down with 0.9700 acting as a barrier. However, during the Asian session it got back to its lows and it still looks very bearish with the USD weak and the CHF very strong.
If the downwards movement runs out of steam close to 0.9640, that could be an excellent buying area when any USD recovery begins.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Unemployment Claims data at 12:30pm London time followed by ISM Non-Manufacturing PMI at 2pm.