USD/CHF Signal Update
Yesterday’s signals were not triggered as unfortunately the price made a high just 1 pip below the key resistance I had highlighted at 1.0249.
Today’s USD/CHF Signals
Risk 0.75% 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 touch of 1.0049 or 0.9993.
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 1.0155.
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.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
USD/CHF Analysis
This pair was looking very bullish before the Trump press conference turned everything around. The price peaked just below 1.0249, a key psychological level which I had identified earlier this week as very likely to hold and this proved to be the case.
The USD is being sold strongly almost everywhere and it looks as if the price is going to reach the nearest support level at 1.0050.
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.