Chapter 38 EURCHF on the way to the Previous supply
13/12/2022
Summary
Euro interest rate decision drives the market
Fundamental analysis
This week we have an interest rate decision in the Europe zone With the expectation to increase the interest rate to 2.5%, Also we have ZEW Economic Sentiment Index With positive expectations for the euro at -25.7, On the other hand, we don't have real impact news on the CHF.
Eurozone ECB Main Refinancing Rate
Previous 2%
Expected 2.5%
Eurozone ZEW Economic Sentiment Index
Previous -38.7
Expected -25.7
Technical analysis
As we see in the 4H diagram chart, Markets trending to the upside creating a higher low and higher high With fundamental support we expect the market will continue the uptrend to the previous supply zone at 0.99367.
Suggestion
Buystop 0.98773 Sl 0.98373 TP 0.99365
