USD/CHF Forex Signal - 28 December 2016

28 December 2016 9:06:32 AM

By: DailyForex.com

USD/CHF Signal Update

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

Today’s USD/CHF Signals

Risk 0.50% per trade.

Trades must be taken before 5pm London time today only.

 

Long Trades

  • Long entry after bullish price action on the H1 time frame following the next touch of 1.0205 or 1.0168.

  • 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 Trade 1

  • Short entry after bearish price action on the H1 time frame following the next touch of 1.0327.

  • 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 pair remains in a reasonably strong upwards trend, but has consolidated for almost two weeks now. The price continues to go nowhere of significance, and no key support or resistance levels have been reached for two weeks. However, I do not give up on the upwards trend yet, I just want to see an upwards move with some volatility in the region of 30 pips or so. As the Forex market has not been fully back online yet, such a move may still come.

A sustained break below 1.0200 would be a bearish sign.

USDCHF

There is nothing due today regarding either the CHF or the USD.

Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.

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