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On the daily timeframe, EURCHF showed its inability to continue the bullish trend that has started since the trend reversal in the first week of this month. Having previously experienced significant gains from the price position of 0.92952 to reach a peak at 0.95742, the pair then reversed direction and entered a bearish phase. However, EURCHF is currently attempting to re-initiate a bullish trend, which is supported by the stochastic indicator which continues to decline towards the 20 level. This gives hope that EURCHF may rally again, but traders need to remain aware of the potential volatility that could affect price movements.
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