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SWISS FRANC / EURO

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CHFEUR trade ideas

Swiss Franc Weakens after Inflation NewsSwiss Franc Weakens after Inflation News Inflation in the country fell in February to its lowest level in nearly two-and-a-half years, data from Switzerland's Federal Statistical Office showed on Monday. Although consumer prices rose 1.2% compared to a year earlier, there is reason to believe that inflation is slowing down compared to the 1.3% recorded a month earlier. Reuters writes that the Swiss National Bank has kept inflation rates within the target range since May 2023, despite rising rents, sales taxes and energy prices. And the latest news makes it more likely that the SNB will cut rates at its next meeting, scheduled for March 21. Thus, market participants can expect a looser policy and an affordable franc — which is why the CHF has weakened against a number of currencies. For example, the EUR/CHF rate has reached its highest level since November 2023. Wherein: → the price has broken through the downward channel (shown in red), which has been in effect since last summer — it seems that it is already losing relevance; → since the beginning of the year, the rate has already increased by more than 3.5%, which allows us to outline trend lines (shown in blue); → levels 0.94730 and 0.95580 changed their behaviour from resistance to support; → daily RSI indicates that after strong growth, the market is in the overbought zone, which creates the preconditions for the formation of a correction. If the growth continues, an important test of the seriousness of the bulls’ intentions may be the level of 0.96800 – near which important reversals in the EUR/CHF price were previously formed. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
6
EURCHF Will Go Lower! Short! Please, check our technical outlook for EURCHF. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 0.953. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.950 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
3
EUR-CHF: ShortThe current price is at 0.952630. The pivot point is calculated as the average of the high, low, and closing prices from the previous trading period. In this case, the pivot point (P) is at 0.95332. Support levels are levels where the price is expected to find support as it falls. S1 and S2 are below the pivot point. The price being between S1 and S2 suggests that there's potential support in this range. In our case, S1 is at 0.95318 and S2 is at 0.95295. Resistance levels are levels where the price is expected to encounter resistance as it rises. R1 and R2 are above the pivot point. Since the current price is below the pivot point, we're not primarily concerned with resistance levels in this analysis. Given that the current price is below the pivot point and in between S1 and S2, it suggests a bearish sentiment. Traders may interpret this as an indication that the price is likely to decrease further. However, it's important to consider other factors such as market sentiment, news events, and broader market trends before making trading decisions.
Short
by Indonesia1945