USD/CHF Forex Signal - 10 February 2015

USD/CHF Signal Update

Yesterday’s signals were not triggered and expired as the price never reached either 0.9358 or 0.9130.

Today’s USD/CHF Signals

Risk only 0.50% per trade.

Trades may only be entered before 5pm London time today.

 

Short Trade 1

  • Short entry after bearish price action on the H1 time frame immediately following the next touch of 0.9358.

  • Put the stop loss 1 pip above the local swing high.

  • Adjust the stop loss to break even once the trade is 30 pips in profit.

  • Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.

 

Short Trade 2

  • Short entry after bearish price action on the H1 time frame immediately following the next touch of 0.9393.

  • Put the stop loss 1 pip above the local swing high.

  • Adjust the stop loss to break even once the trade is 30 pips in profit.

  • Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.

Long Trade 1

  • Long entry after bullish price action on the H1 time frame immediately following the next touch of 0.9130.

  • Put the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 30 pips in profit.

  • Remove 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to run.

USD/CHF Analysis

The same dull consolidation continues, with ever-diminishing volatility. My colleague Christopher Lewis expects some strengthening of the CHF as we have reached the 50% Fibonacci retracement from the recent very strong and sharp move down.

USDCHF 21015

There are no high-impact data releases scheduled for later today concerning either the CHF or the USD. Therefore it is likely to be a very quiet day for this pair, unless there is unforeseen news.

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.