By: DailyForex.com
USD/CHF Signal Update
Yesterday’s signals were not triggered and expired.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades must be entered between 8am and 5pm London times today only.
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
Yesterday’s range was small, as was expected, as it was a major holiday and there was still very thin volume in the markets. However it was notable that the price continues to look bearish in the short-term, rejecting the round number at 0.9900 and continuing to press down upon the support at 0.9850. However the longer that 0.9850, the more likely we will get a nice, strong rise up from this level, so an opportunity to get long from a bullish reversal there or even lower at the round number of 0.9800 might come soon, maybe even today.
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There is nothing due today concerning the CHF. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.