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USD/CHF Forex Signal - 8 November 2016

USD/CHF Signal Update

Yesterday’s signals

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades may only be taken between 8am and 5pm London time today.

 

Long Trade 1

  • Long entry after bullish price action on the H1 time frame following the next touch of 0.9640.

  • 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 Trades

  • Short entry after bearish price action on the H1 time frame following the next touch of 0.9809, 0.9839 or 0.9859.

  • 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

Strangely, the CHF recovered since early in the London session yesterday, at a time when the USD was strong. The CHF is a haven currency and should logically fall on increasing prospects of a Clinton victory, but that is not happening yet.

It is probably going to be a thin and very quiet market today until the exit polls are given for the U.S. Presidential election. A Clinton victory is likely to be bullish for this pair.USDCHF

There is nothing due today regarding either the CHF, or the USD, until the Presidential Election results later.

Adam Lemon
About 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.

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