Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Tuesday, 27 November 2018 9:54 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals produced a profitable long trade from the bullish pin candlestick which rejected the support level identified at 0.9955 right to the pip. Today’s USD/CHF Signals Risk 0.75%. Trades may only be taken before 5pm London time today Short Trades Short entry following a bearish price action reversal upon the next touch 1.0013, 1.0035 or 1.0046. 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 Long entry following a bullish price action reversal upon the next touch of 0.9955, 0.9918 or 0.9898. 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 the picture was now more bullish, with “stairstep” resistance turned to support at 0.9955 and some room to rise higher to the parity level. I would be bullish if the price trades above 0.9985 after the London open but was not optimistic that the price would rise a great deal higher. This was a good call as the price has moved higher but not by much. The picture is slightly more bullish today, with the U.S. Dollar advancing everywhere, but it seems likely that this will be better exploited in EUR/USD and GBP/USD than this pair, so I would take no bias here today. However, trading this pair long is likely to be better than trading it short now. There is nothing important due today concerning the CHF. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm 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.