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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Low
High
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
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The AUD has been hit by the risk-appetite pullback occasioned by the spread of Wuhan-strain coronavirus. This week may see domestic focus return, if headlines allow, with key inflation data due. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/UIpwno0pSq https://t.co/kib4d1mA0q
  • RT @anilvohra69: USD inverted (red) is correlated to Excess Reserves (blue) and Reserve Balances (green). 1/2 https://t.co/bbO1pPWY4F
  • RT @FactSet: $SPX is reporting a decline in earnings of -1.9% for Q4, led by the Energy (-42%), Consumer Discretionary (-14%), and Material…
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/6iMyDFqnqe
  • Knowing how to accurately value a #stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/2mjzvYvgSn
  • Previewing the Texas Rangers new home! https://t.co/WITZGSQPlc
  • Thanks for having me on @MartinSEssex https://t.co/fg8uOe16wr
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
  • Trading Global Markets new #podcast features @DailyFX Anlayst @PeterHanksFX , who discusses what assets would benefit in the next #recession. Tune into this new podcast episode hosted by @MartinSEssex here: https://t.co/Twr44cZ1GB https://t.co/llKzvZGDpQ
USD/CHF, EUR/CHF Price Forecast: Levels and Thresholds to Monitor

USD/CHF, EUR/CHF Price Forecast: Levels and Thresholds to Monitor

2019-07-24 09:27:00
Mahmoud Alkudsi, Market Analyst
Share:

Euro and US Dollar Price Outlook

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

Weaker EURO Across the Board

Last week Euro and US dollar declined against the Swiss franc. EURCHF closed the weekly candlestick with a near 0.7% loss meanwhile USDCHF closed on Friday with a smaller 0.3% loss. This week EUR continued losing value against CHF however, USD firmed slightly and recouped some of last week losses.

Alongside this on Monday, the Relative Strength Index (RSI) crossed below 30 and remained in the oversold territory emphasizing the strength of the downtrend momentum for EURCHF. On the other hand, the oscillator U-turned on USDCHF from 40 and climbed to 47 indicating the buyer's attempt to dominate.

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

USD/CHF Daily Price Chart (May 24, 2017 – JULY 24, 2019) Zoomed Out

USDCHF price daily chart 24-07-19 Zoomed in

USD/CHF Daily Price Chart (April 6 – JULY 24, 2019) Zoomed IN

USDCHF price daily chart 24-07-19 Zoomed in

Looking at the daily chart, we notice today USD/CHF tested the higher trading zone 0.9860- 0.9930 hence, a close above the low end of this zone could push the price towards the high end. However, the weekly resistance levels underlined on the chart (zoomed in) need to be watched closely. Further close above the high end threshold may cause a rally towards 1.0008 although the weekly/monthly resistance levels underscored on the chart should be considered.

In turn, any failure in closing above the low end of the aforementioned trading zone might see the pair trading towards 0.9785. However the daily and weekly support levels underlined on the chart (zoomed in) would be worth monitoring.

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

EUR/CHF Daily Price Chart (March 1, 2017 – JULY 24, 2019) Zoomed Out

EURCHF price daily chart 24-07-19 Zoomed out

EUR/CHF Daily Price Chart (MAY 31 – JULY 24, 2019) Zoomed IN

EURCHF price daily chart 24-07-19 Zoomed in

Looking at the daily chart, we noticed yesterday that EUR/CHF closed in a lower trading zone 1.0950- 1.1001 and today the pair eyes the low end of this zone. Therefore, a close below the low end threshold may lead the price towards 1.0810. Nonetheless the weekly support levels and zone marked on the chart (zoomed in) should be watched along the way.

On the other hand, any failure in closing below the low end or a rebound from 1.0960 may cause a rally towards the high end of the aforementioned trading zone. Further close above the high end could cause more bullishness towards 1.1057 although the resistance zone highlighted on the chart needs to be kept in focus.

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

News & Analysis at your fingertips.