USD/CHF Forex Signal

Yesterday’s signals were not triggered as unfortunately the good bullish rejection of the support level identified at 1.0048 occurred after the end of the London session.

Today’s USD/CHF Signals:

Risk 0.75% per trade.

Trades may only be entered between 8am and 5pm London time today.

Long Trades

Long entry after bullish price action on the H1 time frame following the next touch of 1.0048 or 1.0003.

Place 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.

Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

Short Trade 1

Short entry after bearish price action on the H1 time frame following the next touch of 1.0109.

Place 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.

Take off 50% of the position as profit when the trade is 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

Despite the lack of a long-term trend, a weak bullish movement remains in force. The parity round number of 1.0000 is not very far below and this can usually be relied upon to be good support under normal conditions. Another bullish sign is the invalidation of the former closest resistance level of 1.0089.

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Preliminary GDP data at 1:30pm London time, followed by CB Consumer Confidence at 3pm. President Trump will be speaking before a joint session of Congress at 2am.