USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered between 8am and 5pm London time today only.
Long Trade 1
* Go long after bullish price action on the H1 time frame following a touch of 1.0253.
* Put 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.
* Remove 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 a touch of the lower channel trend line currently sitting at around 1.0210.
* Put 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.
* Remove 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
This pair finally had a sell-off yesterday, reaching a low just a few pips above the anticipated support at 1.0253 before turning around during the last few hours. This may well have been a good buying opportunity and with a wider stop loss at the time of writing there is still time to get in if you want to be positioned long USD against what has been for a while a very weak currency: the CHF.
Note how we remain right in the middle of a very well-established and symmetrical bullish channel which has held for more than one month now.
If the price can break up past 1.0300 and keep trading above that level, this would be a very bullish sign.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.