Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Wednesday, 2 January 2019 10:45 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals were not triggered, as there was no bullish price action at either of the support levels which were reached. 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 0.9744 or 0.9701. 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 last Thursday that the price was still very range-bound, so I thought it best to continue with the approach of being prepared to trade any rejection of a key level in either direction, with relatively conservative profit targets. This did not cause any losses, but did not bring any opportunities either, as the Swiss Franc strengthened and moved the price down to new lows as risk-off market sentiment continued and boosted the Franc somewhat at the expense of the Dollar. We have a drift in a downwards direction, but there is a large area now without any clear levels where the price looks unpredictable. I think the downwards drift is likely to continue, but I would not look to enter a trade in this pair today. The support at 0.9744 might be very strong if reached later. There is nothing of high importance due today concerning 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.