USD/CHF Forex Signal - 21 January 2016

Thursday, 21 January 2016 8:43

By: DailyForex.com

USD/CHF Signal Update

Yesterday’s signals expired without being triggered.

 

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be entered before 5pm London time today only.

 

Long Trade 1

* Long entry after bullish price action on the H1 time frame following a first touch of 0.9928.

* 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 1.0179.

* 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

The chart below shows how this pair has been consolidating within a triangle formation over the past two weeks.

I see a bullish bias but it feels as though the price may need to descend to 0.9928 before it can really rise again.

In the meantime, the price movement is quite slow and there are probably better opportunities elsewhere.

USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be releases of Unemployment Claims data and the Philly Fed Manufacturing Index at 1:30pm London time.

Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.

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