USD/CHF Forex Signal

03 January 2017 10:19:15 AM

By: DailyForex.com

USD/CHF Signal Update

Last Thursday’s signals were not triggered as none of the key levels were reached during that session.

Today’s USD/CHF Signals

Risk 0.75% 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 entry into the zone between 1.0200 and 1.0145.

  • 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 entry into the zone between 1.0315 and 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

This pair is showing a healthy rise as we approach the London open, and has put in new support below at the round number of 1.0200. However, I expect this move is quite likely to run out of steam if it reaches the 1.0250 area as there was a lot of recent selling above that number. The resistance at 1.0315 looks strong.USDCHF

There is nothing due today regarding the CHF. Concerning the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.

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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