Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Thursday, 17 January 2019 11:00 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as none of the key levels were ever reached. 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 0.9961. 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 0.9892 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 situation now looked much more bullish, and I would be comfortable taking a bullish bias if we got a retrace and bounce at any of the support levels nearby. This did not happen, but my noting of the increased bullishness was correct as the price continued to rise and print new higher support at 0.9892. There is quite firm directional movement here, so if the price is still making higher highs after 9am London time, it would be reasonable to take a bullish bias up to 0.9961 and look for entries after pull-backs on shorter-term price charts.There is nothing important due today 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.