USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 0.9752.
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 0.9727, 0.9680 or 0.9649.
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
Go short after bearish price action on the H1 time frame following the next entry into the zone between 0.9800 and 0.9814 or a touch of 0.9774.
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 movements have not been dramatic but the action over the past 24 hours has definitely been bearish. The first anticipated support level did not hold and we had a retest and rejection of the weekly opening price at 0.9774 which looks to have formed as a newly resistant level above.
Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time, followed later by CB Consumer Confidence data at 3pm. There is nothing due concerning the CHF.