USD/CHF Forex Signal

Today’s USD/CHF Signals

 Risk 0.75% per trade.
Trades must be entered before 5pm London time today only.

Long Trade 1

• Go long after bullish price action on the H1 time frame following the next touch of 0.9500.
  
• 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 Trades

• Go short after bearish price action on the H1 time frame following the next touch of 0.9688 or 0.9742.
  
• 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.
  

USD/CHF Analysis
 
The pair is in a downwards trend, with risk-off money flowing into the Swiss Franc among other destinations. However it is relatively quiet compared to Gold and USD/JPY.
Technically, the price has at the time of writing just bounced off a double bottom at 0.9580. This might be the low for today, but I am not trading on that: it is uncertain and against the prevailing trend.
The next solid support is at 0.9500 which should hold for some time.

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