USD/CHF Forex Signal - 11 July 2017

By: DailyForex.com

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

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 0.9678 or 0.9739.
  • 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 0.9600.
  • 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

The price has broken a bearish trend line and is clearly heading upwards, looking to retest probable resistance at 0.9678. The level may hold, but it looks more likely that it will not, and the price will continue upwards, but perhaps with more of a drift than a strong surge.USDCHF

There is nothing due today concerning either the CHF or the USD.

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.