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EURCHF 11 Jul 2024

EURCHF 11 Jul 2024 On the weekly timeframe, EURCHF managed to continue the bullish trend that it started since experiencing a trend reversal mid last month. The pair managed to rally to the 0.97432 price position and break out of the kumo cloud, showing strong bullish momentum. The stochastic indicator also showed a rise towards the 80 level, indicating that the bullish trend may still continue. Traders should remain wary of the overbought potential in the long term, but currently the technical indications point to an opportunity for continued strengthening.

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