Technical Analysis Free Forex Signals USD/CHF Forex Signal - 3 December 2018 USD/CHF Forex Signal - 3 December 2018 Monday, 3 December 2018 10:40 Share 0 Tweet 0 Pin it 0 Last Thursday’s signals were not triggered, as none of the key levels were reached that day. 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 1.0008, 1.0035 or 1.0046. 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 0.9939 or 0.9918. 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 price had broken below the support at 0.9958 but seemed to be holding at 0.9918. This pair was in a ranging condition, so any reversal long or short from a good level was all the same to me and I took no directional bias. This wasn’t a bad call. Today the U.S. Dollar is particularly weak, so the price is falling here. However, it is risky assets which are truly benefiting at the expense of the greenback, so we can expect the move down here to be limited. This means that we can still expect any reversals at key levels to be tradable. I would take a bullish bias later if we get a healthy bullish reversal following a touch of the key support level at 0.9939. There is nothing important due today concerning the CHF. Regarding the USD, there will be a release of ISM 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.