USD/CHF Forex Signal - Monday, July 10 -

USD/CHF Forex Signal – Monday, July 10

Jul 10, 2017Jeremy ParkinsonFinance0

Last Thursday’s signals were not triggered as there was no bullish price action at 0.9617.

Today’s USD/CHF Signals

Risk 0.50% 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 0.9678.

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

Long Trades

Long entry after bullish price action on the H1 time frame following the next touch of 0.9600 or 0.9540.

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 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

The price is forming a consolidating triangle after having made a higher low at 0.9600. It is difficult to forecast what the next move will be in this pair, as usual, so there will probably be better opportunities today in other currency pairs. The potential trade that stands out is a return to 0.9600 and a strong bullish bounce there could be a good entry point for a long-term long trade.