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
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • What is the @ecb (European Central Bank)? What are the key mandates of the bank and how can it affect the #forex market? Find out: https://t.co/romV4hPQJv https://t.co/4nlCaUNhpD
  • Your psychology has a significant impact on the decisions you make, particularly if you are new to trading. How can you avoid your emotions from turning you into a #FOMO trader? Find out: https://t.co/FC7CHpk9vA #FOMOintrading https://t.co/WSDr3JkpAG
  • $AUDUSD: Short-term support could lead-in to a quick bounce up to resistance as taken from another prior support level, plotted around the .6830 level on the chart. Get your market update from @JStanleyFX here: https://t.co/tUoe1Roo5t https://t.co/omaDxGNhZU
  • Central bank independence has several advantages. Find out what they are in detail with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/cQQmuH8biQ
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
USD/CHF, EUR/CHF Price Forecast: A Rally at Risk of Reversal

USD/CHF, EUR/CHF Price Forecast: A Rally at Risk of Reversal

2019-09-11 09:44:00
Mahmoud Alkudsi, Market Analyst
Share:

EUR/CHF and USD/CHF Charts and analysis

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

USD/CHF, EUR/CHF – Stalling Uptrend Move

On Sep 4, EUR/CHF reversed course after printing its lowest level in 28 months.The pair rallied as disscussed in our last update, then on Friday closed in the green with 0.1% gain. Additionaly, USD/CHF U-turned and carved out a higher low at 0.9798 indicating that buyers still in charge.

Last week, the Relative Strength Index (RSI) climbed above 50 on both pairs reflecting buyer’s intention to send the price higher. Although, the oscillator remained flat this week around 57 pausing the uptrend momentum.

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

USD/CHF Daily Price Chart (AUG 28, 2017 – SEP 11, 2019) Zoomed Out

USDCHF price daily chart 11-09-19 Zoomed out

USD/CHF Daily Price Chart (April 15 – SEP 11, 2019) Zoomed IN

USDCHF price daily chart 11-09-19 Zoomed in

Looking at daily chart, we notice on Friday USD/CHF moved to a higher trading zone 0.9860 – 0.9930. This week buyer attempted to rally the price to a higher zone although failed so far.

Thus, any successful close above the high end of the zone could push USD/CHF towards 1.0008. That said, buyers would need to keep an eye on the Aug 1 high with the weekly resistance level marked on the chart (zoomed in). Further close above 1.0008 could see the price trading even higher towards 1.0128. However, the weekly resistance levels underlined on the chart should be kept in focus.

On the flip side, another failure to close above the high end of the zone could change the pair’s direction and send it towards the low end. Further close below the low end might press USD/CHF towards 0.9758. Nonetheless, the weekly support levels underscored on the chart should be considered.

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

EUR/CHF Daily Price Chart (FEB 10, 2017 – SEP 11, 2019) Zoomed Out

EURCHF price daily chart 11-09-19 Zoomed out

EUR/CHF Daily Price Chart (JUN 5 – SEP 11, 2019) Zoomed IN

EURCHF price daily chart 11-09-19 Zoomed in

Looking at the daily chart, we notice at the start of the week EUR/CHF moved to a higher trading zone 1.0950 – 1.1001 however, slipped back after. Today, the price tries hardly to resume bullish price action.

Hence, any close below the low end could reverse the pair’s course sending it towards 1.0810. Further close below this level may continue bearish price action towards 1.0623. In that scenario, the weekly support levels underlined on the chart (zoomed in) need to be watched closely.

On the other hand, if EUR/CHF closes today above 1.0960 this could see the price pushing towards the high end of the zone. Although, the weekly resistance levels marked on the chart would be worth monitoring.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES

News & Analysis at your fingertips.