USD/CHF Signal Update
Yesterday’s signals were not triggered as the bullish price action took place below 1.0150.
Today’s USD/CHF Signals
Risk 0.50% 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 entry into the zone between 1.0123 or 1.0115.
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 1.0168.
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
I wrote yesterday that the price did not look as if it was going to rise, and it has indeed flattened. However, it is finding support at a little zone just below the current area of price, and this may be enough to force a rise to at least 1.0168 later, although in the absence of any scheduled news it is not clear that this will happen.
A sustained break below 1.0115 would be a bearish sign.
There is a long-term bullish trend, although it is weakening.
There is nothing due today regarding either the USD or the CHF.