• Descending channel on daily chart
• Pair faced rejection at the upper bound of the channel
• Italy political turmoil, Nord stream gas flow cut, Recession fears all add to the downside risk
• Descending channel is a bearish pattern, expecting lower prices in the coming days/weeks
• ECB meeting in focus, traders will be watching the rate increase, whether it is going to be 25 or 50 bps
• 20 SMA acting as resistance
• Levels below parity to be revisited
• Pair faced rejection at the upper bound of the channel
• Italy political turmoil, Nord stream gas flow cut, Recession fears all add to the downside risk
• Descending channel is a bearish pattern, expecting lower prices in the coming days/weeks
• ECB meeting in focus, traders will be watching the rate increase, whether it is going to be 25 or 50 bps
• 20 SMA acting as resistance
• Levels below parity to be revisited
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading