Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Tuesday, 29 January 2019 10:59 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as none of the key levels were ever reached, although the high price of the day was just a pip or so below the resistance level identified at 0.9935. Today’s USD/CHF Signals Risk 0.75%. Trades may only be entered before 5pm London time today. Short Trade Go short following a bearish price action reversal upon the next touch of 0.9935. 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 Trade Go long following a bullish price action reversal upon the next touch of 0.9892. 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 20 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 picture was slightly more bearish, with a new lower resistance level at 0.9935 which might produce a profitable short trade for a conservative profit target. This was a good call, with the high of the day only a pip or two below that level, and the price now trading lower. At present, both the Swiss Franc and the Euro appear to be strengthening, and the short-term and medium-term price action suggest lower prices still today. I take a bearish bias today below 0.9925 but the round number at 0.9900 or the support a few pips below that will be likely to stop the downwards movement.There is nothing of high importance due today regarding the CHF. Concerning the USD, there will be a release of CB Consumer Confidence data at 3pm 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.