Tickmill’s Investing Diva, USDCHF Daily Outlook 23-04-20

<p>USDCHF Daily Outlook – On Wednesday oil prices rebounded after Trump signalled new tensions with Iran, probably just to meddle with oil prices. Canadian CPI rose in March on a y/y basis but went down from a 2.2% gain in February. The Eurozone consumer confidence fell to -22.7 in April and the UK inflation hit 1.5% as the coronavirus lockdown continues to bite.</p>
<p>On Thursday we’ll be looking at Japan’s CPI numbers for March.</p>
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<p>Today I’m looking at the EUR/JPY which still has not been able to break below the key support level of 117 after days of consolidation… If the support holds strong, this could turn into a double bottom bullish reversal chart pattern bringing the pair back up to as high as 121…</p>
<p>However, if the bears finally win the battle, doors will open for further drops towards the lows Of 2016 at 111. We are still in wait and see mode eying a confirmation in either direction.<br />
Which direction do you think the pair will break out? Head over to the Comments section and let me know.</p>
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