Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Wednesday, 12 December 2018 11:18 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action at 0.9909. 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 0.9961 or 1.0008. 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 Go long following a bullish price action reversal upon the next touch of 0.9909 or 0.9848. 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 yesterday that I thought the price looked like respecting key support and resistance levels on low volatility, so trading reversals off key levels on short-term charts was probably going to be the best strategy in trading this pair for the time being. I had no directional bias here now. The U.S. Dollar strengthened almost everywhere, and this meant the price was able to break cleanly above the former resistance at 0.9909 which has now probably become new support. There is no real change from yesterday, this pair is on the side lines, with relatively orderly price movement, meaning that reversals at key levels with conservative targets are likely to present the best opportunities, although I would not be interested in trading this pair at present as there I better action in GBP/USD. There is nothing important due today concerning the CHF. Regarding the USD, there will be a release of CPI data at 1:30pm 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.