USD/CHF Signal Update
Yesterday’s signals gave two short entries following bearish price action in the zone between 1.0215 and 1.0240. One would have been a losing trade, the other gave a profit of 20 pips.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered between 8am and 5pm London time today only.
Long Trade 1
* Go long after bullish price action on the H1 time frame following a touch of the bullish lower channel trend line currently sitting at around 1.0150.
* 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
* Go long after bullish price action on the H1 time frame following a touch of 1.0091.
* 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 3
* Go long after bullish price action on the H1 time frame following a touch of 1.0043.
* 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 had a strong upwards move yesterday, which followed comments by the SNB showing a relaxed and approving attitude to the devaluation of the Swiss Franc. The pair actually broke up past the most recent 5 year high at 1.0238, and although it fell from there, the price seems to be holding up.
The picture remains the same: this is the most strongly trending pair, and above 1.0238 it will be trading in blue sky. Bullish outlook.
There is nothing due today regarding the CHF or the USD. It is a public holiday today in the U.S.A.