USD/CHF Forex Signal - 3 March 2016

USD/CHF Signal Update

Yesterday’s signals were not triggered.

 

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be entered before 5pm London time today only.

 

Long Trade 1

* Long entry after bullish price action on the H1 time frame following the next touch of 0.9950.

* Place 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.

* 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

* Long entry after bullish price action on the H1 time frame following the next entry into the zone between 0.9850 and 0.9820.

* Place 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.

* 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

* Short entry after bearish price action on the H1 time frame following the next touch of the broken trend line currently sitting at around 1.0070.

* Place 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.

* 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 2

* Short entry after bearish price action on the H1 time frame following the next touch of 1.0110.

* Place 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.

* 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

It is still the case that there is little change here, the pair is in between trends and is responding really well to support and resistance levels, especially when they end in .50 or .00.

The only interesting thing to note is that there is selling off 1.0000 and the price looks a little heavy just ahead of 0.9950 so it would not surprise me if we see a break down below that level fairly soon.

USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time followed later by ISM Non-Manufacturing PMI at 3pm.

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.