Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Thursday, 10 January 2019 11:51 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bullish price action at 0.9744. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered before 5pm London time today only. Short Trade Short entry following a bearish price action reversal upon the next touch of 0.9847. 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 Trade Long entry following a bullish price action reversal upon the next touch of 0.9744. 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 a break below the lower trend line was likely to trigger a further move down to 0.9744, where we may see a healthy bullish bounce triggering a long trade entry. I was watching out for a move down to 0.9744 and then waiting to see what happened if the price got there. This was a good call as there was a break below the trend line followed by a further move down to 0.9744 and below. There was no bullish bounce at 0.9744 and this level has been invalidated. We now have a yet more bearish picture, with the U.S. Dollar generally on the defensive and the Swiss Franc rising against it by default. I would take a bearish bias if the price retraced to the 0.9800 level and failed to break above the area and then made a strong bearish reversal. A break below 0.9700 today would be a very bearish sign.There is nothing of high importance due today concerning the CHF. Regarding the USD, the Chair of the Federal Reserve will be giving a minor speech at 5pm 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.