Trading Talks EUR/CHF May 3
The previous forecast of the euro franc downtrend was correct. The currency pair really lost the support of the channel and continued its fall.
Now I propose to look at the situation more broadly. It should be important that in the higher term, an area of amplitude narrowing has been formed. This is clearly visible on the daily chart. There are several key support levels that will significantly prevent a fall below 1.02, 1.01, 1.00.
In turn, the key resistance at 1.034 and EMA 100 is currently the most likely high of the current local direction.
The main trend that can be seen on the weekly chart is downward. Based on this, it is worth counting on updating the minimum, and falling to the seven-year mark, which was reached back in 2015 at a price of 0.965. But this is a long-term option in which the Euro loses its strength above the franc.
A more positive temporary option for the euro would be the beginning of this trend correction and a return to the level of 1.046, where EMA 200 is located and growth to 1.06