Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

USD/CHF Forecast: Theatens a Move Higher

By Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
  • The US dollar initially fell against the Swiss franc in early trading on Monday, but then turned around to show signs of life again.
  • The dollar is pressing up against the 0.8950 level, an area that has been important multiple times, and therefore it's not a huge surprise to see that we're just somewhat stagnant here.
  • However, when look at the charts overall, the US dollar continues to be a major winner in the FX markets.

If we were to break above that level, it's likely that we could see the market continue to go higher, perhaps reaching the 0.9050 level. The shape of the candle does suggest that we are trying to continue to rally and that there is a lot of pressure there just waiting to get involved. Even if we were to pull back, I think there is plenty of support all the way down to at least the 0.88 level.

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review

Technical Analysis

USD/CHF Forecast Today 17/12: Theatens a Move Higher (graph)

The 50 day EMA is getting ready to cross above the 200 day EMA just below that level, kicking off the so-called golden cross. So, I think longer term traders will also be looking at that as a potential sign to get long for a bigger move. I do think that the interest rate differential between the United States and Switzerland will continue to push this USD/CHF pair higher despite the fact that the Federal Reserve is likely to cut interest rates 25 basis points this week.

After all, the Swiss just cut by 50 basis points last week in a bit of a surprise move, so I think that shows that the Swiss are possibly even thinking about going negative before it's all said and done. It's something they've done before, so it's not out of the realm of possibility. I like buying dips. I have no interest in shorting the US dollar, especially against the Swiss franc.

Ready to trade our daily forex forecast? Here are the best online trading platforms in Switzerland to choose from. 

Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Most Visited Forex Broker Reviews