Technical Analysis Free Forex Signals USD/CHF Forex Signal - 20 July 2017 USD/CHF Forex Signal - 20 July 2017 Thursday, 20 July 2017 11:39 Share 0 Tweet 0 Pin it 0 +1 By: DailyForex.com Yesterday’s signals were not triggered as none of the key levels were ever reached. 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 Trade 1 Go long after bullish price action on the H1 time frame following the next touch of 0.9500. 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 not yet even managed to touch the very strong support level I am expecting at the psychologically important round number of 0.9500. The resistance at the next round number above at 0.9600 also remains. Recent hours have seen a small, mild bullish retracement that tells us little. It is generally a good idea to trade reversals at round numbers with this currency pair generally, and this is the scenario that is worth waiting for here. A bullish reversal at 0.9500 could be an excellent long-term long trade entry, despite the bearish trend in the U.S. Dollar. There is nothing due today concerning the CHF. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time. 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.