USD/CHF Forex Signal - 7 September 2016

USD/CHF Signal Update

Yesterday’s signals were not triggered as none of the key levels were reached.

 

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be entered before 5pm London time today.

 

Long Trades

* Go long after bullish price action on the H1 time frame following the next touch of 0.9640 or 0.9593.

* 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 0.9816 or 0.9894.

* 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 sharp fall in the USD hit this pair quite hard even though the CHF had been one of the weakest major global currencies over recent days and weeks. Possibly the fall was a little harder than may have been expected because there was a lot of room available for the movement, with no key support levels before 0.9640.

USDCHF

There is nothing due today concerning the CHF or the USD.

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.