USD/CHF Signal Update
Yesterday’s signals were not triggered as the price never quite reached 1.0253.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken before 5pm London time today.
Long Trade 1
* Long entry after bullish price action on the H1 time frame following a touch of 1.0253.
* Move 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 ride.
Long Trade 2
* Long entry after bullish price action on the H1 time frame following a touch of the lower channel trend line currently sitting at around 1.0220.
* 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 ride.
USD/CHF Analysis
Yesterday’s anti-USD sentiment meant that this pair eventually was pushed down to the support right at the key number of 1.0250, which seems to be holding up at the time of writing and looks to giving a nice-looking long trade entry right away.
Should that not work out, there is likely to also be support at the supportive trend line which is a little way above the 1.0200 level.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time. Later at 5:25pm the Chair of the Fed will be speaking.