Forex&XauUsd Daily Outlook for 31.07.2023
UsdChf- Bullish in short term, bearish in medium term. What to do?
UsdChf is in a bearish trend for quite some time and recently broke under very important 0.88 zone support.
After reaching a low at 0.8550. Here the pair found support and formed a small double bottom which could lead to further gains.
In conclusion, in the short term, a rise to test the broken support, now resistance is not out of the question and short-term traders can try to speculate this potential rise.
However, if you want to stay on the safe side, a sell in 0.88 zone is a better choice.

EurUsd could rebound from the trend line
In the past two weeks, after reaching a high at 1.1250, EurUsd had a bad run and dropped 300 pips.
However, the trend is not altered yet, with the pair above the recent trend line.
A rebound from this support could be next and considering the fact that DXY is near resistance and it could drop from there, this outlook becomes pretty likely.
In conclusion, dips under 1.1 could be bought for a test of recent resistance.

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