USD/CHF Forex Signal July 09 2015 - 9 July 2015

USD/CHF Signal Update

Yesterday’s signals may have given another short off the resistance identified at 0.9500, which should have been a profitable trade.

Today’s USD/CHF Signals

Risk 0.75% per trade.
Trades must be made before 5pm London time only.

Short Trade 1

  • Go short after bearish price action on the H1 time frame following the next touch of 0.9500.
  • Place 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.
  • Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 1

  • Go long after bullish price action on the H1 time frame following the next touch of 0.9398.
  • Place 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.
  • 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.

Long Trade 2

  • Go long after bullish price action on the H1 time frame following the next touch of 0.9325.
  • Place 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.
  • 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.

Long Trade 3

  • Go long after bullish price action on the H1 time frame following the next touch of 0.9248.
  • Place 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.
  • 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

Again, the key levels all remain unchanged, and for the second day running the 0.9500 level acted as good resistance. With the FOMC failing to trigger any strong reaction, it is likely the ranging conditions will continue.

USD/CHF Signal

There is nothing due today regarding the CHF. At 1:30pm London there will be a release of U.S. Unemployment Claims data.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.