USD/CHF Signal Update
Yesterday’s signals produced a winning long trade with a small profit on the bullish bounce from the anticipated support at 0.9580.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following a touch of 0.9580.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.
Long Trade 2
Long entry after bullish price action on the H1 time frame following a touch of 0.9550.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.
Long Trade 3
Long entry after bullish price action on the H1 time frame following a touch of 0.9500.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 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 an entry into the zone between 0.9675 and 0.9700.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
This pair continues to behave extremely predictably, with all the key support and resistance levels highlighted recently holding perfectly and producing comfortable reversal trades. Over the course of the past 24 hours we made a double bottom at the closest forecast support level from yesterday, which was 0.9580. It now looks like we are moving up to test 0.9675 but there appears to be some local resistance at around 0.9650. If we fall from here and test 0.9580 again we will probably get as low as 0.9550 before the price turns around bullishly again.
There is nothing due today regarding the CHF. Concerning the USD, there is be a release of ADP Non-Farm Employment Change data due at 1:15pm London time.