USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9959.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9910 or 0.9855.
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 1.0043.
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.
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 starting to look more bullish after printing new flipped resistance to support at 0.9959, but this level broke down quite easily and lost its significance. Like most currency pairs right now, the action is choppy and unclear. Any good opportunities in the market today will probably occur elsewhere.
There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time