USD/CHF Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be taken between 8am and 5pm London time today.
Long Trades
Long entry after bullish price action on the H1 time frame following the next touch of 0.9654 or 0.9597.
Put the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trades
Short entry after bearish price action on the H1 time frame following the next touch of 0.9862, or 0.9894.
Put the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CHF Analysis
This pair is really dead, the recent candlesticks shown in the chart below just show a totally dull consolidation. There is really nothing to get interested in here at all, either long-term or short term. The only good thing about this pair is the round, half and quarter numbers often act as very effective support and resistance levels so trading the bounces off key levels that fit that criteria can be very attractive.
There are much better opportunities elsewhere
There is nothing due concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time. FOMC Member Bullard will be speaking at 6:30pm.