USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were reached during the London session.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trades
Go long after bullish price action on the H1 time frame following the next touch of 0.9580 or 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 Trades
Go short after bearish price action on the H1 time frame following the next touch of 0.9727.
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
This pair has broken down below its previous consolidation zone with the recent weakening of the USD. At the time of writing it is sitting on support at 0.9622 just as London opens. If the price is at 0.9632 or above at 9am London time, this would suggest a long trade entry opportunity in line with a bullish rejection of that level. Otherwise, the level is called into doubt as support, and it would probably be safer to wait for a touch of 0.9580 which is not very far away.
Concerning the USD, there will be a release of Building Permits data at 1:30pm London time. There is nothing due regarding the CHF