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EURCHF’s bearish run break almost 3-year low; indicators are oversold
EURCHF had a bearish start on Tuesday, with the price breaking a crucial support at 1.0660 to drop to 1.0656, the lowest since April 2017. Currently, the pair is moving marginally above this bottom but has also increased distance below its negatively sloped moving average line and the Ichimoku cloud, indicating that the ten-month downtrend may hold for longer. Momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line and looks to be heading south. However, the RSI has reversed slightly higher after the decline in the oversold zone, signaling that the downfall might come ... (full story)