Swiss Franc trader reveals why EUR/CHF at 0.9300 signals bigger drop ahead
Key Points
- EUR/CHF is facing downward pressure, trading around 0.9300, ...
The EUR/CHF pair is doing its best impression of a tourist who just saw Swiss hotel prices - backing away slowly and looking for the nearest exit. Trading around 0.9300, the Euro has been giving the Swiss Franc the respect it deserves, which is to say it's been steadily losing ground like a hiker without proper boots on an Alpine trail.
When Triangles Point Down, Wallets Follow
Technical analysts are eyeing a descending triangle formation that's about as subtle as a cowbell in a Swiss meadow. The pattern suggests that once EUR/CHF breaks below the 0.9293 support level, we could see the p...
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