USD/CHF Forex Signal

Yesterday’s signals were not triggered, as none of the key levels were ever reached.

Today’s USD/CHF Signals

Risk 0.75%.

Trades may only be taken before 5pm London time today.

Short Trades

Short entry following a bearish price action reversal upon the next touch of 1.0053 or 1.0066.

Put 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.

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

• Long entry following a bullish price action reversal upon the next touch of 0.9965.

• Put 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.

• 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 price looked like falling lower still, especially if the EUR/USD currency pair can get established above 1.1344. This was a good call as this is how things played out. However, the move down has been slow. There is no change to my outlooks, it still looks likely that the price will continue to fall slowly – there is nothing stopping it from falling further until the support level at 0.9965.

There is nothing of high importance due today concerning the CHF or the USD.