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EURZHF 7 Aug 2024 On the weekly timeframe, EURCHF has been declining since the middle of last month which led the price to continue to fall until it broke through the kumo cloud and settled at 0.93609. Although there appears to be a trend reversal this week with a bullish signal seen on the candlestick, the stochastic indicator shows a chart that is still declining towards the 20 level, indicating that the bearish pressure is still strong. This shows that despite the potential trend reversal, the bearish strength has not completely subsided, so traders need to be cautious and consider other indicators before making trading decisions.
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