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Top Trade Idea 2019: Short EUR/CHF as European Issues - Including Brexit - Weigh

Top Trade Idea 2019: Short EUR/CHF as European Issues - Including Brexit - Weigh

Martin Essex, MSTA, Analyst

EUR/CHF traded broadly sideways in a range between 1.12 and 1.15 between early August and early December 2018 after dropping from a 1.20 high in April. That stability seems odd given that the UK is due to leave the EU in March 2019 and there is a high probability that the UK will leave with no deal.

EUR/CHF Price Chart: Daily Timeframe (January 2017 to December 2018)

Top Trade Idea 2019: Short EUR/CHF as European Issues - Including Brexit - Weigh

So far, the principal impact of the Brexit negotiations has been on the British Pound but if the UK leaves without a deal that will be strongly negative for the EU’s economy as well as the UK’s. That could not only weaken the Euro but also strengthen “safe-haven” currencies like the Swiss Franc. My top trade for 2019 is therefore to sell EUR/CHF, with the 2017 lows around 1.06 a possible target.

To see all the of the analysts Top Trade Ideas for 2019 and Top Lessons from 2018, download the guides on the DailyFX Trading Guides Page.

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