USD/CHF Forex Signal - 29 December 2015

By: DailyForex.com

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 times today only.

 

Long Trade 1

* Long entry after bullish price action on the H1 time frame following a first touch of 0.9850.

* 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 ride.

 

Long Trade 2

* Long entry after bullish price action on the H1 time frame following a first touch of 0.9800.

* 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 ride.

 

Short Trade 1

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

* Put the stop loss 1 pip above the local swing high.

* 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.

 

USD/CHF Analysis

Yesterday’s range was small, as was expected, as it was a major holiday and there was still very thin volume in the markets. However it was notable that the price continues to look bearish in the short-term, rejecting the round number at 0.9900 and continuing to press down upon the support at 0.9850. However the longer that 0.9850, the more likely we will get a nice, strong rise up from this level, so an opportunity to get long from a bullish reversal there or even lower at the round number of 0.9800 might come soon, maybe even today.

USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm 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.