USD/CHF Signal Update
Last Thursday’s signals were not triggered.
Today’s USD/CHF Signals
Risk 0.50% 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 0.9770.
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 entry into the zone between 0.9830 and 0.9845.
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
We have seen a continuing move up in this pair and it is almost getting to the point where we have to say there is a long-term bullish trend – but we are not quite there yet.
This pair has tended to chop around for a long time so reversals off key levels are common regardless of the prevailing trend.
It looks as if the probable resistance at 0.9830 is going to be key in determining what will happen next so that is a level to watch closely.
There is nothing of high importance due today concerning either the CHF or the USD.