technical view: After strong rejection in 1W in from previous top zone started a impulsive 5 and a zigzag correction Waiting for another
downtrend in coming weeks.
Fundamental reasoning: Another downward impulsive 5 can form because of market being steady after Ukraine and covid news getting more sufficient and warm down and several countries increase of interest rate like new zealand , britain , and USA and by getting close to summer in my own perspective European counties gonna need less export of oil and gas based products so it means less debt and stronger money value
sentiment view: from last COT report for CHF we had -2720 changes in long positions from non-commercial traders and +435 changes in short trades so by having a wider difference from past and correlation between gold and swiss franc we can conclude the next downward is close
downtrend in coming weeks.
Fundamental reasoning: Another downward impulsive 5 can form because of market being steady after Ukraine and covid news getting more sufficient and warm down and several countries increase of interest rate like new zealand , britain , and USA and by getting close to summer in my own perspective European counties gonna need less export of oil and gas based products so it means less debt and stronger money value
sentiment view: from last COT report for CHF we had -2720 changes in long positions from non-commercial traders and +435 changes in short trades so by having a wider difference from past and correlation between gold and swiss franc we can conclude the next downward is close