USD/CHF Forex Signal

05 January 2017 9:52:56 AM

By: DailyForex.com

USD/CHF Signal Update

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

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be taken from 8am to 5pm London time today only.

 

Long Trades

  • Long entry after bullish price action on the H1 time frame following the next touch of 1.0145 or 1.0083.

  • 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 1.0249.

  • 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

I was correct yesterday in seeing short trades as the better opportunity than long trades in this pair, although the price never rose to the nearest resistance level so there was no implementation. There has been a significant move down but the price is now bouncing back after coming close to the support level at 1.0145. There is new resistance just above at 1.0210 but I am not confident in this level yet, 1.0249 looks much more solid.

There is still a long-term bullish trend.

USDCHF

There is nothing due today regarding the CHF. Concerning the USD, there will be a release of the ADP Non-Farm Employment Change at 1:15pm London time, followed by Unemployment Claims at 1:30pm, ISM Non-Manufacturing PMI at 3pm and Crude Oil Inventories at 4pm.

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.

DailyForex Newsletter
0 User Reviews

Registration is required to ensure the security of our users. Login via Facebook to share your comment with your friends, or register for DailyForex to post comments quickly and safely whenever you have something to say.

Log in | Create a DailyForex.com Account Now