Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Thursday, 27 December 2018 11:16 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the resistance level at 0.9961 was not reached until after London closed. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered before 5pm London time today. Short Trade Short entry following a bearish price action reversal upon the next touch of 0.9961. 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 0.9894 or 0.9848. 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 price remained mostly range-bound as is typical with this currency pair. Even though Switzerland is on holiday, I thought that it may be possible to trade rejections of key levels because there was a lot of safe-haven flow at present with strongly falling stock markets which would tend to generate abnormally high activity in Swiss Franc trading. Therefore, I would take no bias but would look for solid rejections of key levels in any direction. This was a good call but unfortunately the chance did not come until well after the London close, with a bearish rejection of the resistance level at 0.9961. The price chart below shows that there is no real change to the technical picture – the price is still very range-bound, so I would continue with the approach of being prepared to trade any rejection of a key level in either direction, with relatively conservative profit targets. 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.