Ransquawk

An interesting technical situation is drawn on the EUR/CHF pair. Although Frank has been quite weak lately, at the end of last week there was established a local high and a new swing down. It is interesting because the last two large upward movements had almost the same range and duration. Recently price came second time under the upper edge of the bearish channel, as well as under the key resistance zone in the region of 1.1470-80. In this area, therefore, we have confluence of several factors that may lead to falls, despite the rather weak Frank. As for the factors directing the course to the south, it is worth mentioning that this week is passing the deadline for submitting a new, revised project of the Italian budget. So far, there is no word about concessions. In addition, the European Commission, with the forecasts for the coming years, wrote a higher deficit for Italy in 2019-20. In the coming days, it may be interesting, and all tensions in this field will rather weaken the Euro, which may translate into declines on the chart.


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EURCHF D1

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