USD/CHF Forex Signal - 26 September 2016

USD/CHF Signal Update

Last Thursday’s signals were not triggered as there was no bullish price action at 0.9707.

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 0.9740/0.9755 or 0.9816.

  • 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

This pair has no long-term trend, but has been falling over the short term.

There is a bearish trend line above but I do not have much faith in it, preferring the zone from 0.9740 to 0.9755 as resistance. This area is confluent with the psychologically key price level of 0.9750 which could strengthen it further.

It is probably best to aim for relatively small profit targets in this longer-term consolidative environment, especially on a Monday such as today.USDCHF

Concerning the CHF, the Chair of the SNB will be speaking at a conference at 10:30am London time. There is nothing due regarding 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.