USD/CHF Signal Update
Last Thursday’s signals gave a losing short trade off a bearish reversal from the 0.9571 to 0.9600 zone.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following the next touch of 0.9537.
Put 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 2
Long entry after bullish price action on the H1 time frame following the next touch of the bullish trend line which is currently sitting at around 0.9445.
Put 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.
Remove 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
We have had more USD bullishness and, more surprisingly perhaps, CHF weakness. This pair has been consolidating ever since January’s historically unprecedented price shock, but during recent weeks this consolidation is beginning to take on a bullish bias.
There is a clear run above with no resistance nearby, but the price needs to fall a long way before reaching the next likely good support level at 0.9537, so there might well not be much opportunity today.
There is nothing due today regarding the CHF or the USD.