USD/CHF Forex Signal - 3 July 2017

Monday, 3 July 2017 7:29

By: DailyForex.com

Last Thursday’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 may only be entered between 8am and 5pm London time today.

Short Trades

  • Short entry after bearish price action on the H1 time frame following the next touch of 0.9640 or 0.9654.
  • 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 Trade 1

  • Long entry after bullish price action on the H1 time frame following the next touch of 0.9540.
  • 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

The price at the time of writing is sitting right at minor resistance at 0.9600. Otherwise, it is distant from any key support and resistance levels. The main observation technically which can be made is that the Swiss Franc is weaker than the Euro, so moves against the Dollar are probably better traded using the EUR/USD currency pair.USDCHF

There is nothing due today concerning the CHF. Regarding the USD, there will be a release of ISM Manufacturing PMI data at 3pm London time.

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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