USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.50% per trade.
Trades must be entered before 5pm London time today.
Long Trade 1
* 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 trend line currently sitting at around 1.0092.
* 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
I forecasted yesterday that “There is quite likely to be support at 0.9900 and resistance at 1.0000” and this is exactly what happened, with sellers stepping in around the 1.0000 level. There may be buying at 0.9900 but it is the zone below that which starts at 0.9850 where things get more interesting. Overall, there is no change to this pair’s technical picture, which is of a choppy price that seems reluctant to go anywhere, but which becomes slightly more bullish the longer that the price holds up above 0.9850.
There is nothing due today concerning either the CHF or the USD.