USD/CHF Signal Update
There are no outstanding signals.
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 0.9550.
- 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
- 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 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 a bearish reversal off the short-term trend line currently sitting at about 0.9720.
- 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 run.
Short Trade 2
- Short entry after bearish price action on the H1 time frame following the next touch of 0.9800.
- 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 run.
USD/CHF Analysis
Like most of the European currencies against the USD, this pair is in a long-term consolidation, and has been slowly steadying ever since the huge price shock that hit the Swiss Franc last January.
This pair has moved quite predictably within that consolidation off support and resistance levels, especially when such levels have been round numbers. This pair tends to respect round numbers very well.
At the moment there is a nice bearish trend line forming above and the price really does not seem to want to rise, so a quick pop up to that trend line would probably make a good short trade.
There is good support below at 0.9550 which was strong last week, and below that there is a key psychological level at 0.9500 which will probably be very strong support if it is hit any time soon..
There is nothing due today regarding either the CHF or the USD.