Risk Off Returns : CHF Strongest Currently
Wed 26th July 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- EURCHF (Primary Focus Pair)
- CHFJPY (Covered In Video)
- NZDUSD (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
| EURCHF Short | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 0.9600 | ||
| Stop Loss (Min) | |||
| Stop Loss (Max) | 0.9660 | -60 pips | |
| Profit 1 | |||
| Profit 2 | 0.9450 | +150 pips | 1 : 2.5 |
Risk warning: Trading carries a high degree of risk. Read more here.
The market sentiment has shifted overnight with risk off returning. This has caused the JPY to strengthen as well as the CHF which tops our tables as the strongest currency.
EUR has appeared on our live forex strength vs weakness tables as a weak currency offering us opportunities on EURCHF.
However, before we look at this market it is important to note that there is an ECB rate decision tomorrow, which could affect the strength and weakness of the EUR going into tomorrow’s trading session.
That being said, the technical analysis of the forex pair suggests we could see further downside.
Price has recently traded through a bearish pattern, trading down through key lows of 0.9600.
These lows could act as resistance for traders looking to take advantage of this forex pair.
Sellers will look to target around the all time lows between 0.9500 and 0.9450.
Technical Observations:
- CHF is strong on both trading tables.
- EURCHF has formed a bearish trading pattern.
- Price is in a strong downward trend.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
