EUR/USD Technical Analysis
The Euro had initially started to fall towards the 1.14 level. That’s an area that is at the bottom of a larger consolidation range. The market turning the way it has from the 1.14 level tells me that we are more likely than not going to remain in this range. Ultimately, I do think this is a market that probably bounces for a few days, so I think it is certainly a great risk-to-reward ratio. A clear support underneath. Could go looking all the way to the 1.16 level again, based on the 200-day EMA.
GBP/USD Technical Analysis
The British pound has also fallen but turned around to show signs of life. If we can jump over the 1.3250 level, that could be a sign that we are going to recover towards the 200-day EMA as well. If we break down below 1.3150, then we could go to the 1.3050 level.
USD/CHF Technical Analysis
The US dollar has given back a bit of the gains against the Swiss franc, testing the 0.81 level but failing. The question now is, can we turn around? I think ultimately, we do, but a little bit of a pullback makes quite a bit of sense. That pullback should be thought of as a potential short-term selling opportunity but a longer-term buying opportunity. If you’re a day trader, maybe there’s a play here to the downside, but if you’re a longer-term trader, clearly, we are doing everything we can to form a huge bottom that might be for quite some time.
EUR/USD Price Forecast
Every new EUR/USD analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all EUR/USD forecastsThe Federal Reserve is expected to raise interest rates by 25 basis points this year. The Swiss may never do it again; we just don’t know. So, with that being the case, it does make sense that this market eventually continues to the upside.
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