Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Wednesday, 16 January 2019 10:56 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as there was no bearish price action at any of the identified resistance levels. Today’s USD/CHF Signals Risk 0.75%. Trades may only be taken between 8am and 5pm London time today. Short Trade Go short following a bearish price action reversal upon the next touch of 0.9961. 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 0.9848 or 0.9816. 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 the price remained in a very congested zone of competing support and resistance. This made short-term movement very unpredictable, and likely to be consolidative anyway, so I thought that it was probably best to avoid trading this pair today unless the price reversed at 0.9850 or the bearish trend line. I was completely wrong, as instead the price made a strong bullish move and broke out of the entire price area. The situation now looks much more bullish, and I would be comfortable taking a bullish bias if we get a retrace and bounce at any of the support levels nearby. The increased volatility in this pair is probably helped by all the movement in the British Pound which tends to have a knock-on effect on other major European currencies.There is nothing important due regarding either the USD or the CHF. 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.