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EUR/CHF Technical Analysis - EUR/CHF Trading: 2020-04-28
EUR/CHF Technical Analysis Summary
Above 1,058
Buy Stop
Below 1,048
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
EUR/CHF Chart Analysis
EUR/CHF Technical Analysis
On the daily timeframe, EURCHF: D1 moved up from the downtrend. A range of indicators of technical analysis formed signals for a further increase. We do not exclude bullish movement if EURCHF rises above its last maximum: 1,058. This level can be used as an entry point. We can set a stop loss below the last two lower fractals, the Parabolic signal and the minimum since July 2015: 1.048. After opening the pending order, we move the stop loss after the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop level (1,048) without activating the order (1,058), it is recommended to delete the order: perhaps, some internal changes in the market have not been taken into account.
Fundamental Analysis of Forex - EUR/CHF
Swiss National Bank (SNB) announced an increase in deposits over the past week by 13.4 billion Swiss francs. This is the maximum growth since January 2015. Will EURCHF quotes rise?
The upward movement of this currency pair means the weakening of the Swiss franc against the euro. Market participants do not rule out that a significant increase in deposits may mean the Swiss Central Bank is inclined to take some measures to limit the further strengthening of its currency. The total amount of SNB deposits reached 650 billion Swiss francs. Let us recall that on April 23, EURCHF came close to the minimum again since July 2015. Changes in the SNB rate (-0.75%) are not yet expected. It is much lower than the ECB’s rate (0%). Note that the next meeting of the European regulator will take place on 30 April. Eurozone GDP data for the 1st quarter of 2020 and the preliminary inflation for April will be published at the same time. All this can support the euro. This week, KOF retail sales and indicators of business activity will come out in Switzerland.
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