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
Mixed
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
Oil - US Crude
Bearish
Wall Street
Mixed
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
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
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
More View more
Real Time News
  • 🇲🇽 Business Confidence (NOV) Actual: 42.4 Previous: 41.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇲🇽 Business Confidence (NOV) Actual: 42.4 Previous: 41.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • $GBPNZD could be poised to extend its run to fresh yearly lows as price struggles to break back above the 78.6% Fib (1.9024) A push to challenge the 88.6% Fib (1.8676) looks on the cards if sellers can drive price below the November low (1.8896) $GBP $NZD #technicalanalysis https://t.co/DlRb2haxL6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.09%, while traders in NZD/USD are at opposite extremes with 74.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OiM0irh4dG
  • Heads Up:🇲🇽 Business Confidence (NOV) due at 12:00 GMT (15min) Previous: 41.5 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Stock diversification can help investors through volatile periods within the stock markets. Get your guide to stock diversification here: https://t.co/is594vNNcT https://t.co/kUxUFk5TW0
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 3.23% Gold: 1.67% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EOQKtjK8EG
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.23% 🇬🇧GBP: 0.12% 🇦🇺AUD: 0.05% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eI4xtkV6Gd
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.55% Wall Street: 1.19% US 500: 1.15% Germany 30: 0.73% France 40: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UwXqB3FED1
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/lpeiULx9Wq
USD/CHF Technical Outlook: Reversal Signals on USD vs Swiss Franc Price Chart

USD/CHF Technical Outlook: Reversal Signals on USD vs Swiss Franc Price Chart

2020-02-10 15:00:00
Mahmoud Alkudsi, Analyst
Share:

USD/CHF Price - Technical Forecast

  • USD/CHF at its highest level in 2020
  • USD vs CHF chart highlights a possible downtrend reversal

USD/CHF – Bullish Outlook

On Friday, USD/CHF surged to its highest level in six weeks at 0.9781, then closed the weekly candlestick in the green with nearly 1.5% gain.

Alongside this, the Relative Strength Index (RSI) crossed above 50 reflecting the end of downtrend move with a possible start of a uptrend momentum.

USD/CHF Daily Price Chart (MAR 15, 2018 – FEB 10, 2020) Zoomed Out

usdchf daily price chart zoomed out 10-02-20
USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q1 USD Forecast
Get My Guide

USD/CHF Daily Price Chart (Aug 13 – FEB 10, 2020) Zoomed IN

usdchf daily price chart zoomed in 10-02-20

From the daily chart, we noticed that from late Dec to Mid-Jan USD/CHF created a low with a lower low meanwhile, RSI created a low with a higher low signaling a bullish divergence i.e. a possible reversal of downtrend move.

In late Jan, bears pressed USDCHF towards 0.9629 then pulled back in early Feb causing a rally towards the high end of current trading zone 0.9569 – 0.9788. On Friday, the price closed above the 50-day average generating another bullish signal.

A close above the high end of the zone may lead more bears to exit the market and possibly to rally USDCHF towards 0.9839. Further close above this level opens the door for bulls to take charge and push towards 0.9921. In that scenario, the weekly resistance levels underlined on the chart (zoomed in) should be considered as some traders might exit/join the market around these points.

In turn, any failure in closing above the high end could mean bears comeback. This might reverse current direction towards the low end of the zone. Further close below this level may cause more bearishness towards 0.9438. That said, the weekly support levels underscored on the chart would be worth monitoring.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

USD/CHF Daily Four-Hour Chart (DEC 9 – FEB 10, 2020)

usdchf four hour price chart 10-02-20

Looking at the four-hour chart, we notice that in early Dec USD/CHF started a downtrend move led the price to 0.9613 -its lowest level in over fifteen months. Later, the market developed an inverted head and shoulders pattern. On Friday, the pair broke above the neckline located at 0.9762 hinting to rally towards 0.9900 handle.

Thus, a break above 0.9797 could send USDCHF towards 0.9833. Yet, the weekly resistance level marked on the chart should be watched closely. On the flip side, a break below 0.9743 could press USDCHF towards 0.9717. Nevertheless, the daily support level printed on the chart should be kept in focus.

See the chart to know more about the key technical levels in a further bullish/bearish scenario.

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