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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/Ewt9Enkdqy
  • Heads Up:🇯🇵 Leading Economic Index Prel (MAR) due at 05:00 GMT (15min) Previous: 98.7 https://www.dailyfx.com/economic-calendar#2021-05-12
  • Heads Up:🇯🇵 Coincident Index Prel (MAR) due at 05:00 GMT (15min) Previous: 89.9 https://www.dailyfx.com/economic-calendar#2021-05-12
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.61%, while traders in GBP/USD are at opposite extremes with 68.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kEdSF6ojIK
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.20% 🇨🇦CAD: -0.21% 🇯🇵JPY: -0.22% 🇪🇺EUR: -0.23% 🇳🇿NZD: -0.57% 🇦🇺AUD: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sz8V05hZds
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.47% Germany 30: -0.58% France 40: -0.60% Wall Street: -0.75% US 500: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NOBNy7vj0M
  • Crude Oil Prices Hold Gains as Stockpiles Fall, OPEC Lifts Demand Outlook https://www.dailyfx.com/forex/market_alert/2021/05/12/Crude-Oil-Prices-Hold-Gains-as-Stockpiles-Fall-OPEC-Lifts-Demand-Outlook.html https://t.co/APWMEPdjwh
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/JzGHRpIOSb
  • Perhaps I'm a bit shell-shocked by the disappointing response from data over the past few weeks (Fed, GDP, NFPs) such that I'm dubious of a 'risk' response to CPI. However, $VIX closed at a two month high this past session https://t.co/jXoajxNjX9
  • The volatility of the first 48 hours of this trading week which has rocked the Nasdaq 100 and other risk measures has drawn blame around inflation. Well, the CPI data is up and the Dollar is ready: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/12/Dollar-Prepared-for-Nasdaq-Volatility-if-Inflation-Data-Can-Stir-Interest.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/xSR7ThfMAM
USD/CHF, EUR/CHF Price Outlook: Euro and US Dollar Rebound against Swiss Franc

USD/CHF, EUR/CHF Price Outlook: Euro and US Dollar Rebound against Swiss Franc

Mahmoud Alkudsi, Analyst

Price Forecast

Did you check our latest forecasts on USD and EUR and Gold? Find out more for free from our Q3 forecasts for commodities and main currencies

EUR/CHF and USD/CHF Closing with Loss

Last week EUR/CHF peaked at 1.11598 then declined as expected in our last update closing the weekly candlestick with nearly 0.5% loss of its value. On the other hand, USD/CHF suffered even more and closed with 1.5% loss on Friday.

Today, the Relative Strength Index (RSI) pointed higher for both however, it might be early to talk about a possible uptrend with EUR/CHF still below 50 and USD/CHF has not crossed above yet.

Just getting started?See our Beginners’ Guide for FX traders

USD/CHF Daily Price Chart (JAN 5, 2017 – JULY 17, 2019) Zoomed Out

USD/CHF price daily chart 17-07-19 Zoomed out

USD/CHF Daily Price Chart (April 16 – JULY 17, 2019) Zoomed IN

USDCHF price daily chart 17-07-19 Zoomed in

Looking at daily chart, we notice USD/CHF on Monday U-turned at 0.9817 then rallied in the following day closing in a higher trading zone 0.9860 – 0.9930 and currently, the pair may be on its way to test the high- end of this zone.

Hence, a close above the high-end could open the door for the price to rally towards 1.0008 although, the weekly resistance levels marked on the chart (zoomed in) should be watched along the way.

In turn, a close below the low-end of the zone might send the price towards 0.9785 however, the weekly support levels mentioned on the chart (zoomed in) need to be kept in focus.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

EUR/CHF Daily Price Chart (JUL 17 , 2017 – JULY 17, 2019) Zoomed Out

EUR/CHF price daily chart 17-07-19 Zoomed out

EUR/CHF Daily Price Chart (MAY 3 – JULY 17, 2019) Zoomed IN

EUR/CHF price daily chart 17-07-19 Zoomed in

Looking at the daily chart, we notice EUR/CHF pressed lower on Friday then rebounded yesterday from the low end of the trading zone 1.1057- 1.1190. Therefore, the pair may be on its way to test the high-end of this zone contingent on clearing the daily resistance levels underlined on the chart (zoomed in).

Its worth noting that if EUR/CHF breaks and remains above the neckline of a double bottom pattern residing at 1.1172 this could open the door for the price to rally towards 1.1278 however, the price should first clear the high -end of the aforementioned trading zone with the weekly resistance levels highlighted on the chart.

On the flip-side, a close below the low-end of the trading zone might press the price towards 1.1001 nonetheless, the weekly support zone underscored on the chart needs to be considered.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES