Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Thursday, 31 January 2019 10:56 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as none of the key levels were reached during the specified time. Today’s USD/CHF Signals Risk 0.75%. Trades may only be entered before 5pm London time today. Short Trade Go short following a bearish price action reversal upon the next touch of 0.9935. Put 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. 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 Trade Go long following a bullish price action reversal upon the next touch of 0.9892. Put 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. Remove 50% of the position as profit when the price reaches 20 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 there was very little life in this pair which was basically just consolidating. I thought it was best avoided. Although there was some movement, the price essentially stuck to its medium-term range, so this was overall a good call. There may be an early short trade opportunity here, with the price breaking below the former resistance at 0.9935 which at the time of writing appears to be holding. If taken, conservative profits would make sense. The U.S. Dollar is generally weak following yesterday’s FOMC, but there are probably currencies other than the Swiss Franc which are going to make better progress against it. There is nothing of high importance due today regarding either the CHF or the USD. 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.