USD/CHF Forex Signal - 12 April 2016

USD/CHF Signal Update

Yesterday’s signals were not triggered.

Today’s USD/CHF Signals

Risk 0.75% per trade.

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

 

Long Trade 1

  • Go long after bullish price action on the H1 time frame following the next touch of 0.9500.

  • 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

  • Go short after bearish price action on the H1 time frame following the next touch of 0.9580.

  • 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

The symmetrical bearish channel I identified yesterday held perfectly, giving an opportunity for those with faith in the channel to get short following the rejection of its top at 0.9570. Notably, the price got to within just a few pips of the support level identified at 0.9500, and there was a fairly strong bullish bounce there. No change technically and everything continues as before.

USDCHF

There is nothing due today regarding 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.