Today’s USD/CHF Signals
Risk 0.75%.
Trades may only be taken between 8am and 5pm London time today.
Short Trades
- Short entry following a bearish price action reversal upon the next touch of 0.9725 or 0.9761.
- Put 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.
- Remove 50% of the position as profit when the price reaches 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
Traders continue to seek safe-haven as market fears remain, therefore both sides of this pair were volatile until confidence is regained, since both the USD and the CHF are considered safe have currencies. The USD/CHF pair break below reaching the support level at 0.9641 by the end of last week's trades, the lowest since the mid-April, before closing around 0.9695. A break below 0.9600 will increase selling. Traders view recent US jobs data positively, an in addition to Trump's upcoming tariff of 200 billion US dollars on Chinese products, it seems that the US dollar will regain strength and enjoy strong support, also by the positive outlook for the US economy and the chances of further rate increases by the Federal Reserve.
There is nothing important due today concerning the CHF or USD.