USD/CHF Forex Signal - 20 June 2017

Adam Lemon

Yesterday’s signals were not triggered during the allocated session.

Today’s USD/CHF Signals

Risk 0.50% per trade.

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

Short Trades

  • Go short after bearish price action on the H1 time frame following the next touch of 0.9761 or 0.9812.
  • 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 ride.

Long Trades

  • Go long 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 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

This pair continues to behave very technically, again respecting a key level, this time the resistance at 0.9761 which was hit and rejected during the Asian session. This lessens the likelihood of another failed retest providing a successful short trade during the forthcoming session, but it remains a possibility. The longer the new bullish trend line below remains in place without being hit, the more supportive a touch is likely to be when it finally happens.USDCHF

There is nothing due today concerning either the USD. Regarding the CHF, the Chair of the Swiss National Bank will be speaking at 7:30am and 9:45am 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.
Learn more from Adam in his free lessons at FX Academy

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