USD/CHF Forex Signal - 11 January 2016

USD/CHF Signal Update

Last Thursday’s signals triggered a profitable long trade following the pin bar rejection of the support level at 1.0006.

 

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades may only be taken between 8am and 5pm London time today.

 

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.

 

Short Trade 1

* Go short after bearish price action on the H1 time frame following a touch of 1.0052.

* 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

The price has again found support in the area of 0.9928, and we now see a fairly strong upwards move from there, which leads me to want to not take any further long trades from that area for the rest of today. The next support below is too far away to be useful today so I look instead to potential resistance at 1.0052.

USDCHF

There is nothing due today concerning either the CHF or the USD.

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.