Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/CHF: back down into the channel
Information is not investment advice
EUR/CHF got down into the range of 1.0780-1.0790 breaking the four-week support. Therefore, the euro is becoming weak. Or, is it?
On a larger scale, EUR/CHF is just coming back down to the media it has been revolving around since the beginning of summer. As you can see on the daily chart below, the channel between 1.0730 and 1.0780 contains most of the currency pair’s movement, with outbreak down and up on the way. Therefore, go further below 1.0780 may be considered as a “normal” scenario for EUR to stabilize against the CHF tactically, in the course of a larger upward correction after EUR/CHF hit the lows of 1.05 when the virus hit. So, prepare your support levels!
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
The CAD vs. the World: Mid-Term Scenarios for the Currency
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
Fed Keeps Pushing USD to 2000s Highs
The US dollar index has all chances of reaching the 2000s high of 120.00.
Gold isn't saving investors from inflation
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
Choose your payment system
