Bearish EURCHF Trade Idea: 58.96% Probability of Hitting TP1!
Bearish EURCHF Trade Idea: 58.96% Probability of Hitting TP1!
EUR/CHF OANDA:EURCHF
Jasminex1x2
The Euro is facing headwinds due to ongoing economic challenges in the Eurozone. Persistent inflation concerns, coupled with the European Central Bank's cautious monetary policy stance, are weighing on the currency. Meanwhile, the Swiss Franc continues to benefit from its safe-haven status amidst global economic uncertainties.
Geopolitical tensions in Eastern Europe and economic slowdown fears in major Eurozone economies like Germany are further contributing to the Euro's weakness relative to the Swiss Franc. The Swiss National Bank's commitment to maintaining price stability also supports the Franc's strength.
Regarding the trading strategy, I'll be employing a probability-based approach to enter short positions on EURCHF.
I use an indicator that does all the probability calculations based on historical data.
Here's the comprehensive top-down analysis:
12M:
1D:
6H:
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