Technical Analysis Free Forex Signals USD/CHF Forex Signal - 18 July 2017 USD/CHF Forex Signal - 18 July 2017 Tuesday, 18 July 2017 12:16 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals produced a long trade following the bullish inside candle rejecting the support level identified at 0.9600, although it was only good for just a little more than the minimum 20 pips of profit. Today’s USD/CHF Signals Risk 0.50% per trade. Trades must be taken before 5pm London time today only. Short Trade 1 Go short after bearish price action on the H1 time frame following the next touch of 0.9600. 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 0.9600. 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 further weakening in the U.S. Dollar has seen the price break down below its slightly bullish channel, and the round number at 0.6800 has clearly been flipped from acting as support to become probable resistance. This gives a more bearish outlook to this currency pair, but it should be noted that the CHF is not, relatively, one of the strongest currencies. Furthermore, the support at and above the psychologically key 0.9500 level has been very strong in the recent past, so could continue to act as a formidable barrier preventing a more prolonged downwards movement. 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.