News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:
  • How does stock market liquidity benefit its traders? Learn more here.
  • BoK Governor Lee says Yellen a rational pick for Fed, would be positive for markets - BBG
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.39% Silver: 0.27% Gold: 0.15% View the performance of all markets via
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.16% 🇨🇭CHF: 0.13% 🇨🇦CAD: 0.09% 🇦🇺AUD: 0.04% 🇬🇧GBP: 0.03% 🇳🇿NZD: -0.01% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.25%, while traders in NZD/USD are at opposite extremes with 75.59%. See the summary chart below and full details and charts on DailyFX:
  • All my Google autocompletes are now Thanksgiving related. This is making for some interesting suggested searches
  • Bok Governor Lee says action will be taken if herd behavior seen in FX market - BBG $KRWUSD
  • New Zealand Prime Minister Ardern says rising home prices not a plan for growth - BBG
  • Wall Street Futures Update: Dow Jones (+0.214%) S&P 500 (+0.262%) Nasdaq 100 (+0.440%) [delayed] -BBG
Analysis: Reversal Pattern in EUR/CHF

Analysis: Reversal Pattern in EUR/CHF

2013-05-02 17:02:00
Kristian A. Kerr,

EUR/CHF has come under steady downside pressure over the past week or so. However, a variety of near-term focused time cycle techniques suggest the cross is nearing a medium-term turn window where a change in trend could materialize. With the Swiss National Bank frequently intervening in the exchange rate, cycle analysis becomes harder but not totally irrelevant. This is especially the case when the cyclical picture begins to turn in the direction that the central bank favors. This looks to be the case in EUR/CHF over the next few days.

The 1.2120-1.2200 area has been an important support zone since late February. A daily chart shows a potential inverse Head & Shoulders pattern (based on closing prices) forming on the daily that could lead to another push higher. The 78.6% retracement of the late April advance in the 1.2180 area marks and idealized level from which the right shoulder could carve out and we like the reward-to-risk of getting long against this level over the next few days.

EUR/CHF Daily Chart: May 2, 2013

range_eurchf_body_Picture_2.png, Analysis: Reversal Pattern in EUR/CHF

Charts Created using Marketscope – Prepared by Kristian Kerr

Event Risk Over Coming Sessions:

range_eurchf_body_Picture_1.png, Analysis: Reversal Pattern in EUR/CHF

Source: DailyFX Calendar


Resistance: 1.2290 (38% retracement of Jan to Feb decline), 1.2345 (April high)

Support: 1.2180 (78.6% retracement of late April advance), 1.2135 (April Low close)


Entry: 1.2180

Stop: Close below 1.2135

Target 1: 1.2290

Target 2: 1.2345

--- Written by Kristian Kerr, Senior Currency Strategist for

To contact Kristian, e-mail Follow me on Twitter at@KKerrFX.

Are you looking for other ways to pinpoint support and resistance levels? Take our free tutorial on using Fibonacci retracements.

Need guidance managing risk on trades? Download the free Risk Management Indicator.

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.


DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.