Replies to post #49826 on Simple's Green Room

[pennies2007]

True, but that EUR/CHF scenario is in play here.

The sell off of the Euro has pushed that pair into SBC intervention territory. They want the Euro to stay strong.


They'll buy Euros to keep the value elevated. That means EU will benefit as well.

The lowest I can see on EU short term is at the S3 weekly pivot at just above 1.42.

Honestly, I can't really see it dropping below 1.43. We're at the bottom of the daily tunnel and the daily chart is very oversold.

No matter which way I look, I see at least a small bounce coming soon.