Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Tuesday, 8 January 2019 10:43 Share 0 Tweet 0 Pin it 0 +1 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 Trades Short entry following a bearish price action reversal upon the next touch of 0.9847 or 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 Trade Long entry following a bullish price action reversal upon the next touch of 0.9744. 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 this pair was completely range-bound and did not look as if it was going anywhere. I thought it was probably best to avoid trading this pair, as it was even more range-bound that the EUR/USD currency pair. This was a good call. This pair might be becoming more interesting now, as we can draw a lower resistance level now at 0.9847 as well as some trend lines which have held the price over several taps within these horizontal levels. The U.S. Dollar is weak, and the action is certainly mildly bearish over the medium-term, so it would make sense to take a weak bearish bias. However, over the past few years this pair has tended to range, so all strong rejections are likely to give some profit if you just trade the reversals. I see both the nearby levels as likely to be strong and would follow the direction of the reversal if it happened at either of the levels today.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.