Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Wednesday, 23 January 2019 10:44 Share 0 Tweet 0 Pin it 0 Last Monday’s signals were not triggered as there was no bearish price action at 0.9961. Today’s USD/CHF Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today only. Short Trades Short entry following a bearish price action reversal upon the next touch of 1.0008 or 1.0035 or 1.0046. 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 0.9961 or 0.9892. 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 last Monday that if the price broke firmly above 0.9961 and traded there for a couple of hours, it would be a bullish sign and reasonable to take a bullish bias, but the parity level at 1.0000 was quite likely to make itself felt and prevent much more of a rise over the short term. This was a good forecast and it reflects exactly what happened, with the price now consolidating slightly bullishly just above the new flipped resistance to support level at 0.9961. It is reasonably to take a very slightly bullish bias as long as the price holds above 0.9961 but again, the price is quite likely to be held down by the parity level at 1.0000 over the short term.There is nothing of high importance 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.