USD/CHF Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action when 1.0090 was reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken before 5pm London time today.
Short Trade 1
* Short entry after bearish price action on the H1 time frame following a touch of 1.0050.
* 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.
Short Trade 1
* Short entry after bearish price action on the H1 time frame following a touch of 1.0091.
* 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
Last Thursday’s surprise from the ECB caused the Euro to rise by more than 3% in value and as the CHF follows the Euro these days, this pair came along for the ride too, breaking the supportive trend line.
The price has been rising along with the strengthening USD so far since this week’s open, but the only key levels anywhere close by are probable resistance levels at 1.0050 and 1.0091.
It is less clear what is going to happen next with this pair so it might be better to trade EUR/USD instead as that pair has more clearly defined and obvious levels to watch.
There is nothing due today regarding the CHF or the USD.