Today’s USD/CHF Signals
Risk 0.75%.
Trades may only be taken between 8am and 5pm London time today.
Short Trades
- Short entry following a bearish price action reversal upon the next touch of 0.9777 or 0.9830.
- 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 price reaches 20 pips in profit and leave the remainder of the position to run.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
USD/CHF Analysis
After three bearish sessions, the USDCHF was able to rebound higher reaching the 0.9758 level from the support level at 0.9641 reached at the end of last week's trading. The US dollar is still stronger as expectations remain strong that the Federal Reserve will raise interest rates this month and then an additional, fourth, time at its last meeting this year. If Trump's approval of the upcoming tariffs of 200 billion US dollars on Chinese products is confirmed, it will support the continued strength of the US dollar, and thus further gains for the pair.
There is nothing important due today concerning the CHF or USD.