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

Today’s USD/CHF Signals

Risk 0.50% per trade.

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

Protect any open trade by 6:30pm.

Short Trade 1

• Short entry after bearish price action on the H1 time frame following the next touch of 0.9761.
• 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.

Long Trades

• Long entry after bullish price action on the H1 time frame following the next touch of 0.9654 or 0.9593.
• 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.

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

The price is consolidating and looks confused and very difficult to predict. However, a test of 0.9654 does look likely to happen during today’s session, and if it happens early, it could provide some long pips before the FOMC release later, which could push the price anywhere.

(Click on image to enlarge)

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of CPI and Retail Sales data at 1:30pm London time, followed by Crude Oil Inventories at 3:30pm. Finally, we will get the FOMC Statement, Federal Funds Rate, and Economic Projections at 7pm with the usual Press Conference half an hour later.