Never miss a story from Mahmoud Alkudsi

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Mahmoud Alkudsi

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

USD/CHF and EUR/CHF Price Outlook

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

EUR/CHF, USD/CHF - Better Performance Last Week

Last week Euro and US dollar rebounded against Swiss franc. EURCHF closed the weekly candlestick with 0.3% profit, meanwhile USDCHF closed with strong gains of 1.1%. However, at the start of this week buyers stopped, leaving prices shy of key resistance levels.

Alongside this, the Relative Strength Index (RSI) remained flat above 50 for USD/CHF indicating to buyer’s loss of momentum. In turn, the oscillator remained flat below 50 for EUR/CHF indicating to the buyer’s lack of momentum to start upward trend.

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

USD/CHF Daily Price Chart (FEB 10, 2017 – JULY 31, 2019) Zoomed Out

USDCHF price daily chart 31-07-19 Zoomed out

USD/CHF Daily Price Chart (April 16 – JULY 31, 2019) Zoomed IN

USDCHF price daily chart 31-07-19 Zoomed in

Looking at daily chart, we notice on Monday, USD/CHF failed to close above 0.9930 and dropped to the lower trading zone 0.9860- 0.9930. Due to this development, the pair eyes a test of the low end of this zone.

Further close below the low end may send the price towards 0.9758. However, the weekly support levels underlined on the chart (Zoomed in) should be watched along the way.

On the other hand, a successful close above the high end of the zone could push the price towards 1.0008. Although, the weekly resistance levels marked on the chart (Zoomed in) specially 0.9951 should be kept in focus.

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

EUR/CHF Daily Price Chart (JAN 1, 2017 – JULY 31, 2019) Zoomed Out

EURCHF price daily chart 31-07-19 Zoomed in

EUR/CHF Daily Price Chart (MAY 17 – JULY 31, 2019) Zoomed IN

EURCHF price daily chart 31-07-19 Zoomed in

Looking at the daily chart, we notice on Friday EUR/CHF failed to close above 1.1057 in a similar way to USD/CHF and dropped to the lower trading zone 1.1001 – 1.1057. Since the start of this week, the pair failed to test the high end of the zone, this suggests the price may be on the way for a test of the low end.

Further close below the low end could send the price towards the vicinity of 1.0960-50. Nonetheless, the weekly support levels underscored on the chart (zoomed in) would be worth monitoring.

On the flip-side, a successful close above the high end of the zone, may send the price towards 1.1190. However, the weekly resistance level and zones highlighted on the chart should be considered.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi