USDCHF – BUY – 4th September 2020

USDCHF – BUY – 4th September 2020 (Closed)

Good afternoon team,

Stop losses on the NZDCAD and NZDUSD can be moved to their open price.

We are revisiting the USDCHF as the set up is still ticking the boxes both technically and fundamentally. We now have a slightly better entry point. US unemployment and Non Farm Payroll is tonight which is a high impact event. The data will be released at 10:30pm. Expect volatility on all USD pairs. This is setting up to be a very important data release.

If you haven’t watched today’s members webinar you can catch up below. There are some very interesting charts setting up.

 

USDCHF – Technical Analysis

4 Hour Charts

The break of the negative trend line is still providing support which is a positive sign for long positions.

Trade Setup: BUY Market execution, current price 0.9100, stop loss 0.9055 and take profit target 0.9220.

Stop loss: 45 pips

Take profit: 120 pips.

If the market breaks back through the inclining trend line support, we will close out the position.

Manage your own risk, when the trade moves into a profit of 20 pips take your stop loss to the open price.

Trade Setup
BUY - Market Execution

Entry
0.9100

Take Profit
0.9220

Stop Loss
0.9055