USD/CHF Forex Signal - 28 November 2016

USD/CHF Signal Update

Last Thursday’s signals were not triggered as none of the key levels were ever reached.

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be taken between 8am and 5pm London time today only.

 

Long Trades

  • Long entry after bullish price action on the H1 time frame following the next touch of 1.0074 or 1.0060.

  • Put the stop loss 1 pip below the local swing low.

  • Move 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 Trades

  • Short entry after bearish price action on the H1 time frame following the next touch of 1.0147 or 1.0181.

  • Put the stop loss 1 pip above the local swing high.

  • Move 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

This pair has been selling off strongly ever since the end of the New York session last Thursday. This is partly due to profit-taking in the USD after its recent very strong run, and it is probably especially pronounced in this pair, as it is also in the JPY, as these were the two pairs that saw the strongest rise in the USD, with both JPY and CHF suffering as out-of-favour haven currencies during the Trump Bump.

If 1.0074 continues to hold as support, there should be a decent bullish pull back over the next couple of days, as strong trends rarely turn around this quickly.USDCHF

There is nothing due today concerning either the CHF or the USD.

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.