USD/CHF Forex Signal | DailyForex

Last Thursday’s signals were not triggered as there was no bearish price action at 1.0093.

Today’s USD/CHF Signals

Risk 0.75%.

Trades must be entered between 8am and 5pm London time today only.

Short Trades

  • Go short following a bearish price action reversal upon the next touch of 1.0130 or 1.0159.

  • 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 Trades

  • Go long following a bullish price action reversal upon the next touch of 1.0087, 1.0070 or 1.0053.

  • 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 it now looked as if bulls and bears were evenly balanced over the medium term so rejections of either 1.0093 or 1.0053 were likely to provide attractive reversal trade entry opportunities.

I was wrong as the price advanced beyond 1.0093 but it was enough to stay out of trouble.

We see risk appetite returning to the market despite no obvious progress concerning the trade dispute and also rising tension in the Persian Gulf.

I have no confidence in any strong directional movement here, although a sustained break above 1.0130 would be a bullish sign if it happens later today.USD/CHF Forex Signal | DailyForexThere is nothing important due today concerning either the CHF or the USD.

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