• EURCHF reversed from support area
• Likely to rise to 1.0550
EURCHF today reversed up from the support zone located between the pivotal support level 1.0504 (which stopped the earlier downtrend in April) and the lower daily Bollinger band.
The upward reversal from this support area started the (b)-wave of the active ABC correction (iv) from last month. EURCHF is likely to rise further toward the next round resistance level 1.0550 (top of the previous short-term correction (b)).
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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