Ford sell little bottles of touch-up paint for about $15 by memory. Get one of them (or more, if you need it
Sand the paint on the edges of the chip so that it's a bit smoother. That way it'll be less visible when you paint over it. Use oh, 800 grit wet/dry paper and keep it wet. A trickling hosepipe works well. Otherwise you'll scratch the surrounding paint.
Then paint over it with the touch-up paint, and it should look pretty good from a medium sort of range! Up close you'll be able to see it if you know it's there, but somebody looking at the car will probably miss it.
Proud TQE Operator and President of SEFAG - the Society for the Elimination of Ford Automatic Gearboxes
Pacemaker headers + 2.5" exhaust
EF Fairmont interior
Lowered King springs
5 speed manual
Newest mod: EF Ghia wiring loom and dash