Technical Analysis Free Forex Signals USD/CHF Forex Signal - 5 July 2017 USD/CHF Forex Signal - 5 July 2017 Wednesday, 5 July 2017 10:20 Share 0 Tweet 0 Pin it 0 +1 By: DailyForex.com Yesterday’s signals might have provided a short trade entry as the price was unable to break up past the resistance at 0.9654, but the turn was very slow – a wait until a break of the short-term supportive trend line, as I suggested yesterday, would have resulted in a better trade entry. Today’s USD/CHF Signals Risk 0.50% per trade. Trades may only be entered between 8am and 5pm London time today. Protect any open trade by 6:30pm London time. Short Trade 1 Short entry after bearish price action on the H1 time frame following the next touch of 0.9678. 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 I noted yesterday that there was an opportunity for a short trade, the conditions for which might have been met during the past few hours. However, although the area beginning at 0.9654 is acting as good resistance, the price is not ready to move down yet. The most probable scenario seems to be that the price will hold just below the resistant area all day until the FOMC release later, which will trigger more volatility, but in which direction, is not possible to predict. There is nothing due today concerning the CHF. Regarding the USD, there will be a release of FOMC Meeting Minutes at 7pm 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.