EURCHF is 13 years low, well guys look at the trend channel parallel, you can notice the long low trading since may, this means EUR has been down for all that time, and yes, its has faced so many challenges like, Corona virus, Global inflation and more importantly Geopolitical tensions. fine. I have idea here, if the you can see from the chat the last lowest price EUR traded is around 0.94000, but that couldn't be enough to meet the selling pressure terms, this means there's selling exhaustion.
It is right if we start thinking of bullish movement weather we think It's correction or not, but i believe whenever price break above the boundary of trend channel, we are good to go after a retest as i expected, the closest strong resistance i noticed is 0.98261 while the next after this is 1.04776.
The expectations for Hawkish ECB is real, as we can se the result now, the hawkish commentary saved EUR for corrections especially on EURUSD. the alternative for this idea is bearish to meet the complete circle of the trend which is 0.91454.
please if you have a plan on EUR, you should pay attention to this pair also, Note that SWISS NATIONAL BANK has been hawkish since interest rate increased.
It is right if we start thinking of bullish movement weather we think It's correction or not, but i believe whenever price break above the boundary of trend channel, we are good to go after a retest as i expected, the closest strong resistance i noticed is 0.98261 while the next after this is 1.04776.
The expectations for Hawkish ECB is real, as we can se the result now, the hawkish commentary saved EUR for corrections especially on EURUSD. the alternative for this idea is bearish to meet the complete circle of the trend which is 0.91454.
please if you have a plan on EUR, you should pay attention to this pair also, Note that SWISS NATIONAL BANK has been hawkish since interest rate increased.
