USD/CHF Signal Update
Last Thursday’s signals were not triggered.
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 the next entry into the zone between 0.9850 and 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
* Go short after bearish price action on the H1 time frame following the next touch of 1.0000.
* 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
There has been little change to the price, and no change in the technical picture, since my previous analysis last Thursday. We are still stuck between 0.9850 and 1.0000.
If the price manages to break up above 1.0000 and hold there, I would see a long-term bullish trend as beginning to become established, but for now, this pair is ranging and so there can be opportunities at both support and resistance.
There is nothing due today concerning either the CHF or the USD.