USD/CHF Signal Update
Last Thursday’s signals produced a profitable winning short trade off the bearish rejection of the resistance level identified at 0.9760, which hopefully would have been closed out before the markets closed for the weekend.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered 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 0.9640.
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 0.9809, 0.9839 or 0.9859.
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
After several consecutive days of strongly bearish moves, this pair has opened with a meaningful gap up and looking strong, with a break of the key resistance level at 0.9760. The U.S. Dollar and stocks are both up and in the absence of any other news this is probably being driven by the fact that Clinton is maintaining a small but meaningful lead in the opinion polls of the American presidential election, in addition to the FBI announcing an effective end to their latest probe of that candidate. The CHF is a haven currency and so this pair should rise quite strongly in the event of a Clinton victory as that is what the markets want.
There is nothing due today regarding either the CHF or the USD.