Tues 25th October 2022

Today, Our Daily Forex Strength Weakness Video will focus on:

  • EURCHF
  • NZDCHF

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

EURCHF Gains Continue With Parity In Its Sights?

In today’s video update we focus on two forex pairs. The EURCHF and NZDCHF. These pairs will be our focus today as the live forex strength and weakness tables show us that the EUR (S2), NZD (S3), CHF (W1).

The currency pair to watch is EURCHF as the price looks to head back to parity. Fundamentally the EURO is being supported by the upcoming expectation for the ECB to raise interest rates by 75bps this week.

This has fuelled the EURO strength for some time and if the ECB do not disappoint we could see it continue for longer. 

The monthly chart shows the price is in a strong downward trend but in a retracement phase. This leads to a bullish trend forming on the lower time frames such as the daily and 4hr chart. 

Going down to the 4hr trading time frame the price has recently broken through the previous highs. This could offer breakout traders an opportunity to trade to the next level of resistance which is parity. 

EURCHF | Daily Professional Trading Charts and Analysis | Forex, Indices, Commodities and Crypto Markets | Charles Clifton Forex Trader

Technical Observations

  • The EUR is S2 on both tables and the CHF is W1.
  • Price is currently trading above the key level of 0.9800.
  • ECB is expected to raise interest rates by 75bps.
  • The monthly chart shows a strong downward trend with price in a retracement phase.
  • Next key resistance is parity at 1.0000 with another resistance above at the 200MA.
  • A break above the 4hr candle highs could offer breakout trading opportunities.

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