Technical Analysis Free Forex Signals USD/CHF Forex Signal USD/CHF Forex Signal Monday, 4 February 2019 11:49 Share 0 Tweet 0 Pin it 0 Last Thursday’s signals may have triggered a losing short trade from the weakly bearish price action rejecting the resistance level at 0.9935. Today’s USD/CHF Signals Risk 0.75%. Trades may only be entered before 5pm London time today. 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. Adjust 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 0.9892. Place 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. 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 last Thursday that the U.S. Dollar was generally weak following yesterday’s FOMC, but there were probably currencies other than the Swiss Franc which were going to make better progress against it. This was a good call as despite holding below the resistance at 0.9935, the price failed to fall much further before turning around. The Dollar is generally stronger everywhere, and the key pivotal level which may now act as new support is shown at 0.9957 in the chart below. However, due to the absence of trending behaviour, I see the opportunities as at the extreme price lives near parity (1.0000) and the lower round number (0.9900) if any reversals happen there. I doubt either of these areas will be reached today though.There is nothing of high importance due today regarding 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.