USD/CHF Signal Update
Yesterday’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 between 8am and 5pm London time today.
Long Trades
Go long after bullish price action on the H1 time frame following the next entry into the zone between 1.0218 and 1.0205
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 entry into the zone between 1.0315 and 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
I wrote yesterday about getting a 30 pip swing up as a bullish sign: this did happen and took the price with good momentum close to the identified resistance area, from where it fell strongly.
The longer-term picture is of a consolidation between 1.0218 and 1.0315 and it is significant that even with yesterday’s movements, the price has remained within this area.
This is a sign that trending movement is not happening for this pair, unlike other similar correlated Forex pairs, giving a more consolidative picture.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by Crude Oil Inventories data at 4pm.