Yesterday’s signals were not triggered as none of the key levels were ever reaches.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 1.0059.
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 1.0141 and 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
There are signs of renewed U.S. Dollar bullishness which are being felt everywhere, but it is quite muted in this pair. The chart below shows the action is ranging quite smoothly with even swings, which suggests that the resistant area above starting at 1.0141 should continue to hold if it is reached today. There may be minor support at 1.0106.
There is nothing due today concerning either the CHF or the USD.