USD/CHF Forex Signal - 27 June 2017

Tuesday, 27 June 2017 7:37

By: DailyForex.com

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

Today’s USD/CHF Signals

Risk 0.50% per trade.

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

Short Trades

  • Go short after bearish price action on the H1 time frame following the next touch of 0.9739 or 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 ride.

Long Trade 1

  • Go long after bullish price action on the H1 time frame following the next touch of 0.9654.
  • 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, behaving itself and rejecting obvious resistance levels. The major change I see from yesterday is a switch from a slightly bearish bias to a slight bullish bias. The buying looks a little stronger and sharper than the selling. However, it can still be said that the next short-term movement seems very unclear, and there are probably going to be better opportunities today in other currency pairs.USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time, and the Chair of the Federal Reserve will be speaking at 6pm.

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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