Hawkish commentaries from ECB continue to devalue the European common currency, which provides a little support for the EUR.
On the opposite attitude is SNB, which would prefer more stable and stronger CHF.
EURCHF broke the support of the bearish flag formation, which might indicate a continuation of the bearish movement for the instrument. If this scenario plays out the CHF might attack a parity with EUR. If opposite scenario plays out, the pair might try to test the resistance of the flag pattern at 1.057
Both MACD and RSI indicators are confirming the bearish trend.
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On the opposite attitude is SNB, which would prefer more stable and stronger CHF.
EURCHF broke the support of the bearish flag formation, which might indicate a continuation of the bearish movement for the instrument. If this scenario plays out the CHF might attack a parity with EUR. If opposite scenario plays out, the pair might try to test the resistance of the flag pattern at 1.057
Both MACD and RSI indicators are confirming the bearish trend.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.