USD/CHF Forex Signal - 11 August 2016

USD/CHF Signal Update

Yesterday’s signals were not triggered as there was no sufficiently bullish price action when 0.9770 was reached.

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades may only be entered 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 0.9721 or 0.9703.

  • 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 either 0.9845 or 0.9775.

  • 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

It is looking as if the level at 0.9750 is being invalidated and so we can instead look to a new level not far above at 0.9775 as potential resistance. There are a couple of levels not far below that look interesting as support.

We may have already made today’s low with the bullish “V” that was printed during the Asian session.USDCHF

There is nothing of high importance due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.

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.