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EURCHF 23 Jul 2024 On the daily timeframe, EURCHF experienced a trend reversal to bearish after having rallied steadily since last month. The pair failed to break through the kumo cloud and bounced back down, now at a price position of 0.96849. Although there is a clear bearish signal on the candlesticks, the stochastic indicator shows that the pair has experienced oversold conditions. This indicates a potential trend reversal to bullish in the near future, although selling pressure is currently still dominating the price movement. With the stochastic oversold, traders need to closely monitor the reversal signals to make the right decision.
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