USD/CHF Forex Signal - 22 December 2015

USD/CHF Signal Update

Yesterday’s signals expired without being triggered as none of the key levels were reached.

 

Today’s USD/CHF Signals

Risk 0.75% per trade.

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

 

Long Trade 1

* Long entry after bullish price action on the H1 time frame following a first touch of 0.9850.

* 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 ride.

 

Long Trade 2

* Long entry after bullish price action on the H1 time frame following a first touch of 0.9800.

* 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 ride.

 

Short Trade 1

* Short entry after bearish price action on the H1 time frame following a touch of 1.0051.

* Put 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.

* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

USD/CHF Analysis

I wrote yesterday that if I had to take a position, I would be slightly more bullish than bearish, in that I do believe that 0.9800 is going to hold and be very solid. While I still hold by that, the action is suggesting a fall back down to 0.9850, although the price has not really gone anywhere much over the past 24 hours.

There seems to be minor support at the round number of 0.9900.

There are probably better opportunities elsewhere, although market opportunities will probably be few this week generally.

USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Final GDP data at 1:30pm London time.

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.