USD/CHF Signal Update
Yesterday’s signals were not triggered as there was no bearish price action when the price reached 0.9809.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only 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 0.9752 or 0.9809.
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 Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 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
We have seen some continuing bullishness in the USD and this has translated into a further move up for the price of this pair. The price broke up past the resistance at 0.9809 and this will probably now act as support.
In spite of the slightly bullish bias it makes sense to hold in this pair today, there is still no long-term trend, and I don’t see one emerging as long as the price remains between 0.9600 and 0.9900 or thereabouts.
There is nothing due today regarding either the CHF or the USD.