USD/CHF Forex Signal

11 January 2017 9:14:26 AM

By: DailyForex.com

USD/CHF Signal Update

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

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades may only be entered before 5pm London time today.

 

Long Trade 1

  • Go long after bullish price action on the H1 time frame following the next touch of 1.0083.

  • Put the stop loss 1 pip below the local swing low.

  • Move the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

Short Trades

  • Go short after bearish price action on the H1 time frame following the next touch of 1.0211 or 1.0249.

  • Put the stop loss 1 pip above the local swing high.

  • Move the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

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

Nothing significant is happening, the price is just ranging between 1.0200 and 1.0100 and not even getting close to any key price levels at either side of the range. The only positive thing that can be said about the action is that there is a wide swing pattern so it could be tradeable on the turns. There is still a long-term bullish trend in force, but it gets weaker and weaker.

USDCHF

There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.

Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.

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