USD/CHF Signal Update
Last Thursday’s signals were not triggered as none of the key levels were reached during that session.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 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 1.0200 and 1.0145.
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 entry into the zone between 1.0315 and 1.0327.
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
This pair is showing a healthy rise as we approach the London open, and has put in new support below at the round number of 1.0200. However, I expect this move is quite likely to run out of steam if it reaches the 1.0250 area as there was a lot of recent selling above that number. The resistance at 1.0315 looks strong.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.