Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Thursday, 29 November 2018 11:15 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bullish price action at 0.9955. 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 of 0.9955, 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 0.9918 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 bullish, but a little less bullish as we saw a failure to rise above the parity level and even test the next key resistance at 1.0013. As it happened, everything changed when the Chair of the Fed hinted there would be less rate hikes, we saw everything strengthen against the U.S. Dollar, changing the technical picture somewhat here on this pair. The price has broken below the support at 0.9958 but seems to be holding at 0.9918. This pair is in a ranging condition, so any reversal long or short from a good level is all the same to me and I take no directional bias. There is nothing important due today concerning the CHF. Regarding the USD, there will be a release of the 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.