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Please do click on like icon and share our Hi there, We are expecting Bullish wave within the bigger correction. Detail is on the chart please have look on that how to trade on this chart. Please support the setup with your likes, comments and by following on TradingView thanks. The price has retraced back towards the long term rising channel support, which was broken earlier, and turned to a resistance now.
The recent shorter term pullback is taking the shape of an inverted head and shoulders bottom formation. Interestingly, the neckline of the formation coincided with the main broken channel in addition to the days simple moving Stochastic 89,5,3 is approaching resistance and we might see a corresponding drop in price So, what happened back then?
And that put interest rate differentials and monetary policy divergence into play, obviously in favor of the Greenback and at the expense of the euro, which is only natural. And as of Friday, the Aussie, the Loonie, and the Greenback stayed weak against the euro. In short, the euro was vulnerable to opposing currency price action but is a net winner because the euro got lucky. After two straight weeks of net losses, the Swissy is finally riding high and is even the top-performing currency of the week as of 1 pm GMT.
However, the Swissy had a running start, likely because of the prevalence of risk aversion on Monday. So long as there is breath in me, that long I will persist.