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EURCHF 6 Jun 2024

EURCHF 6 Jun 2024 On the daily timeframe, EURCHF failed to resume its bullish trend after experiencing a trend reversal yesterday. The pair is back inside the kumo cloud and occupies a price position of 0.96979. On the stochastic indicator, EURCHF is below the 20 level, which indicates an oversold condition. This situation suggests a possible rebound or upward correction, but it is still worth being cautious as the price is still inside the kumo, which indicates uncertainty and potential volatility. Traders should monitor the support and resistance levels within the kumo to determine the direction of the next move.

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