USD/CHF Forex Signal - 23 December 2015

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 first touch of 0.9850.

* 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 a first touch of 0.9800.

* 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

* Go short after bearish price action on the H1 time frame following a touch of 1.0051.

* 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

I wrote yesterday that I see 0.9800 as holding but the price falling back down to 0.9850 in the short term. So far this has proven to be true, and my reluctance to get involved with this pair right now is also looking as if it has been a good idea, as the price continues to go nowhere much. This pair is not worth being anyone’s focus right now.

(USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time.

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.