USD/CHF Signal Update
Last Thursday’s signals were not triggered as none of the key levels were ever reached.
Today’s USD/CHF Signals
Risk 0.50% per trade.
Trades may only be entered from 1pm to 5pm London time today.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 1.0205 or 1.0168.
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 1.0327.
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
The pair remains in a reasonably strong upwards trend, but has consolidated for almost two weeks now. We saw some buying during the Asian session, so it could be that the New York open will see strong buying and drive the price up. An upwards move looks more likely than a downwards move as there seems to be good support closer to 1.0200.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of CB Consumer Confidence data at 3pm London time.