USD/CHF Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be made between 8am and 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 0.9166.
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 long-term consolidation within a fairly narrow channel continues for yet another day. The bias seems to b upwards, so it is likely we will hit resistance first, possibly giving us a chance to go short off a reversal. However there might be a breakout instead of a reversal after such a long consolidation.
At 5pm London time the Chair of the SNB will give a speech which could have effect the CHF. There are no events scheduled for the USD today but as yesterday was a public holiday in the USA it is quite likely there will be some appetite in the US market. However it is most likely to be a quiet day for this pair.