EURCHF Technical Outlook on H4 Chart

EUR/CHF Daily Analysis: Monitoring Key Fibonacci Levels for Next Move

 

The EURCHF forex pair, often referred to by traders as the “Swissy,” is a popular pair in the Forex market, representing the euro against the Swiss franc. It is known for its stability and is often traded during times of economic uncertainty due to Switzerland’s safe-haven status. As of today, the EUR/CHF is in focus due to upcoming economic releases from both the Eurozone and Switzerland. The German Final CPI is expected to remain at 0.3%, which could have a minimal impact on the euro. Additionally, the Italian Trade Balance is expected to show a surplus of 5.55B, which might lend some support to the euro. On the Swiss side, the SECO Consumer Climate index is forecasted at -36, indicating continued pessimism among Swiss consumers, which could weigh on the Swiss franc. Overall, with these low-impact events, the EUR/CHF might not see significant volatility unless the data significantly deviates from expectations.

 
Chart Notes:

• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.

Looking at the H4 chart of EUR/CHF, the price recently shifted from a bearish to a bullish trend, as evidenced by the movement from the lower Bollinger Band to the upper band. The pair has shown a strong recovery with the last four candles being green and bullish, supported by an increase in green volume bars. The MACD histogram and lines also suggest strengthening bullish momentum. The price is currently situated between the 0.236 and 0.382 Fibonacci retracement levels, indicating that the pair may be testing a key resistance area. If the price manages to break above the 0.382 Fibonacci level, further bullish movement could be anticipated. However, a failure to break this resistance could lead to a consolidation or even a minor pullback.

 

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.