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EURCHF 16 Apr 2024

EURCHF 16 Apr 2024 In the analysis of EURCHF on the weekly timeframe, it was seen that the pair experienced a trend reversal to bearish after a long period of bullish trend since February. Failing to move up and out from inside the Kumo Cloud, the pair experienced a decline that brought it to a price position of 0.96895. The bearish signal is also seen in the Stochastic which shows a declining chart from the 80 level, indicating an oversold state and the potential for further price declines. As such, the bearish trend is likely to continue in the longer term, and traders may want to consider looking for short opportunities or holding short positions, while keeping in mind proper risk management.

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