USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no suitable price action when either of the key levels were reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm London time today.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 1.0150 or 1.0115.
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
Go short after bearish price action on the H1 time frame following the next touch of 1.0205.
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 has been moved over the past few days largely in line with the EUR/USD, due to the CHF’s high positive correlation with the Euro.
Although there is a long-term bullish trend, the price is now reaching an area that has provided key long-term resistance. Beyond 1.0205, there is the psychologically key resistance level of 1.0250 which has not been broken for a long while.
Therefore, it is hard to see the price rising much further any time soon.
There is nothing due today regarding either the USD or the CHF.