USD/CHF Forex Signal - Tuesday, April 4

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

Today’s USD/CHF Signals

Risk 0.75% per trade.

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

Short Trade 1

* Short entry after bearish price action on the H1 time frame following the next touch of 1.0059.

* 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 trade is 20 pips in profit and leave the remainder of the position to run.

Long Trade 1

* Long entry after bullish price action on the H1 time frame following the next touch of 0.9997 or 0.9958.

* 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 trade is 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

There is technically a long-term bearish trend in this pair, but over both the short and medium terms the trend is clearly long, and its usually best not to go against that. I would therefore be cautious about picking a bearish reversal at 1.0059 and am more optimistic that a return to the parity level might provide another long trade opportunity.

(Click on image to enlarge)

There is nothing due today regarding the CHF or the USD.