FXOpen
The German elections last Sunday and the postponement of US tariffs on the European Union have contributed to a full-fledged upward correction in EUR/USD, GBP/USD, and USD/CHF. The GBP/USD currency pair tested 1.2700, EUR/USD briefly traded above 1.0500, and USD/CHF sellers broke key support at 0.9000.
EUR/USD
According to technical analysis, EUR/USD is showing the completion of several bullish reversal patterns formed back in January. At present, the price is trading within the key range of 1.0540–1.0520. If EUR/USD buyers manage to hold the price above this level, the pair could continue its rise towards 1.0630–1.0590. A break below 1.0500 may lead to a retest of 1.0450–1.0400.
Today, the following events may influence EUR/USD pricing:
- 10:00 (GMT+2): Germany GfK Consumer Climate Index
- 10:30 (GMT+2): France Consumer Confidence Index
- 16:00 (GMT+2): US Building Permits
USD/CHF
For several weeks, USD/CHF buyers have attempted to strengthen above 0.9200. A retest of this resistance level in early February triggered a sharp pullback and the formation of a "double top" reversal pattern on the daily timeframe. At the start of this trading week, USD/CHF sellers managed to push the price below the base of this formation. If the "double top" pattern is fully realised, the price may decline to 0.8790–0.8740. A reversal of the bearish correction scenario can be considered only after a confident breakout above 0.9000.
In the upcoming trading sessions, the following events may influence USD/CHF pricing:
- 12:00 (GMT+2): Switzerland ZEW Economic Expectations Index
- 18:00 (GMT+2): US New Home Sales
- 20:00 (GMT+2): Speech by FOMC member Bostic
- Tomorrow at 12:00 (GMT+2): Switzerland ZEW Economic Expectations Index
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips (additional fees may apply). Open your FXOpen account now or learn more about trading forex with FXOpen.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
Market Insights with Gary Thomson: Where Are Oil, Gas & Global Indices Heading?
In this video, we’ll explore the key economic events and market trends, shaping the financial landscape. Get ready for insights into financial markets to help you navigate the week ahead. Let’s dive in!
In this episode of Market
Netflix (NFLX) Shares Pull Back After a 30% Surge
On 21 January, while analysing the NFLX chart, we:
→ identified a descending channel and a resistance zone around the $100 level;
→ noted that Netflix shares were showing a sustained downtrend. Selling pressure had been triggered primarily by reports of a
US Dollar Index (DXY) Rises Above the 100 Level
Today the US Dollar Index (DXY) climbed above the psychological 100 mark for the first time in 2026, supported by a tense fundamental backdrop, with the military conflict in the Middle East acting as the main driver.
→ Financial market participants