Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Wednesday, 30 January 2019 10:08 Share 0 Tweet 0 Pin it 0 Yesterday’s signals were not triggered, as there was no bearish price action at 0.9935. Today’s USD/CHF Signals Risk 0.75%. Trades must be taken between 8am and 5pm London time today only. Short Trade Short entry following a bearish price action reversal upon the next touch of 1.0008. 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 0.9935 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 20 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 short-term and medium-term price action suggested lower prices still. I took a bearish bias today below 0.9925 but the round number at 0.9900 or the support a few pips below that I saw as likely to stop the downwards movement. I was almost correct, in that the price could not get lower than 0.9907 before the price began an upwards movement and broke up past the former resistance at 0.9935 which now seems to have flipped to support. Despite this bullish move, there is very little life in this pair which is basically just consolidating. I think it is best avoided and that any opportunities in the Forex market are likely to arise in other currency pairs today.There is nothing of high importance due today regarding the CHF. Concerning the USD, there will be a release of the FOMC Statement and Federal Funds Rate at 7pm London time, followed by the FOMC Press Conference half an hour later. 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.