Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Monday, 5 November 2018 9:51 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals were not triggered as there was no bullish action at a support level until 5pm London time had already been reached. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today only. Short Trade Short entry following a bearish price action reversal upon the next touch of 1.0111. Put the stop loss 1 pip above the local swing high. Adjust the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run. Long Trades Long entry following a bullish price action reversal upon the next touch of 1.0009 or 0.9988. Put the stop loss 1 pip below the local swing low. Adjust the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 25 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 wrote last Thursday that the picture was weakly bullish and that there might be a good opportunity to go long at the support level at 1.0033. However, the price continued to fall to even lower support. The picture is still broadly bullish with a weak but real long-term bullish trend, although relying on trends with this currency pair is always risky. I continue to see bullish bounces at support levels as the best potential opportunities here which might set up. I would take a bullish bias above 1.0111. There is nothing important due today concerning the CHF. Regarding the USD, there will be a release of ISM Non-Manufacturing PMI 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.