• Descending channel on daily chart
• Pair faced rejection at the upper bound of the channel
• Italy political turmoil, Nord stream gas flow cut, Recession fears all add to the downside risk
• Descending channel is a bearish pattern, expecting lower prices in the coming days/weeks
• ECB meeting in focus, traders will be watching the rate increase, whether it is going to be 25 or 50 bps
• 20 SMA acting as resistance
• Levels below parity to be revisited
• Pair faced rejection at the upper bound of the channel
• Italy political turmoil, Nord stream gas flow cut, Recession fears all add to the downside risk
• Descending channel is a bearish pattern, expecting lower prices in the coming days/weeks
• ECB meeting in focus, traders will be watching the rate increase, whether it is going to be 25 or 50 bps
• 20 SMA acting as resistance
• Levels below parity to be revisited
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.