EURCHF Price Analysis: Triple Bottom Signals a bullish momentumEURCHF Price Analysis: Triple Bottom Signals a bullish momentum
On the 4-hour chart, the price tested 0.9480 for 3 times indicating the possibility of a triple bottom pattern.
Today after the SNB Interst Rate decision, the price broke out of the pattern and is rising more by confirming in this way the bullish reversal pattern.
This pattern can push the price further and will also be supported by the SNB news.
🚨Breaking:
The Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.50% to 1.25%, following its quarterly monetary policy assessment on Thursday.
The decision came in line with the market expectations.
The SNB announced a surprise 25 bps rate reduction in March to 1.50%, which made it the first major central bank to dial back tighter monetary policy - as reported by FXstreet.
You may find more details in the chart!
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