Technical Analysis Free Forex Signals USD/CHF Forex Signal - 17 July 2017 USD/CHF Forex Signal - 17 July 2017 Monday, 17 July 2017 12:10 Share 0 Tweet 0 Pin it 0 +1 By: DailyForex.com Last Thursday’s signals were not triggered as unfortunately the price made a high just a pip below the key resistance level identified at 0.9688. Today’s USD/CHF Signals Risk 0.50% per trade. Trades may only be entered between 8am and 5pm London time today. Short Trade 1 Short entry after bearish price action on the H1 time frame following the next touch of 0.9688. 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 run. Long Trades Long entry after bullish price action on the H1 time frame following the next touch of 0.9600. 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 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 We have already had a bearish rejection of the resistance level identified at 0.9688 so it may be too late to take advantage of that level if it is reached against today. Caution should be used in attempting to short that level today. The bigger picture is a long-term downwards trend which has lost conviction over recent days. Over the shorter-term, we have a slightly rising, very mildly bullish channel. There does not seem to be much opportunity beyond fading touches of the key levels nearby for modest profit. There is nothing due today concerning either the CHF or the USD. Currency Pairs USD/CHF Adam Lemon 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.