USD/CHF Forex Signal - 12 April 2017

Last Monday’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 between 8am and 5pm London time today.

Short Trades

  • Short entry after bearish price action on the H1 time frame following the next touch of 1.0111 or 1.0139.
  • 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 1.0034 or 0.9997.
  • 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

There is little to say about this pair except that it has been quite bullish, but it is now beginning to make lower highs over the short-term as it starts to sell off. Safe-haven assets have been boosted in recent days, and although the focus has not been on the Swiss Franc, it is still lifted somewhat by this development.

The reaction when the next key level is reached is likely to tell us more about what is next for this currency pair.

USD/CHF Signal

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 Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.