Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Tuesday, 13 November 2018 10:18 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the resistance level at 1.0110 was not reached within the specified time. Today’s USD/CHF Signals Risk 0.75%. Trades may only be taken before 5pm London time today Short Trades Go short following a bearish price action reversal upon the next touch of 1.0110 or 1.0150. Place 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. Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trades Go long following a bullish price action reversal upon the next touch of 1.0048, 1.0035, or 1.0014. Place 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. Take off 50% of the position as profit when the price reaches 25 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 I wrote yesterday that although I had no directional bias, somewhat higher prices looked likely to be reached at some time later. I thought a short trade off a bearish reversal at 1.0111 could be an interesting trade if it set up later. This was a good call as the price did rise over the day, before the rise was capped at the resistance level of 1.0111 (1.0110 to be more precise). We have seen a retracement against the previously strong U.S. Dollar over recent hours, but the Dollar is holding up quite well against the Swiss Franc which is a bullish sign. Yesterday’s close at a 1-year high price is also a bullish sign, suggesting the odds of today’s movement are at least slightly in favour of bulls. I think the resistance at 1.0110 is going to be pivotal today, and I would take a bullish bias to 1.0150 at least if the price were to break above 1.0110 and stay there for a couple of hours. There is nothing important 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.