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RISK OFF Markets Could Make EURCHF HIT PARITY!
With the RUSSIAN-UKRAINE crisis developing day by day, the markets are quite worried and thus are in the RISK OFF mood. All the safehaven currencies would likely appreciate in the coming weeks against the EURO. However the most sensitive EURO pair in this scenario would be the EURCHF. The crisis would likely make CHF appreciate more and more in the coming days/weeks. Even if the SNB tries to intervene to support its currency, we could still see the sellers winning!
TECHNICAL ANALYSIS
PARITY is the real target here for EURCHF! For this to happen, we need the weekly candle to break the 1.02500 mark, after that a SHORT trade can be taken based on the appropriate 1:1 risk to reward ratio. The descending monthly trendline or 1.05000 would ideally likely act as dynamic/ horizontal resistance respectively to guide the price to parity
TECHNICAL ANALYSIS
PARITY is the real target here for EURCHF! For this to happen, we need the weekly candle to break the 1.02500 mark, after that a SHORT trade can be taken based on the appropriate 1:1 risk to reward ratio. The descending monthly trendline or 1.05000 would ideally likely act as dynamic/ horizontal resistance respectively to guide the price to parity
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