EURCHF is trading sideways today, a tad above the new 2023 low of 0.9521 recorded on July 27. This was the lowest print of the pair since September 29, 2022 as the bears finally staged their much-anticipated breakout from the 10-month-old rectangle. However, the good news for the bears appears to stop here as the momentum indicators are gradually turning in favour of the bulls. More specifically, the Average Directional Movement Index (ADX) traded to the highest level since December 2021, but it is now moving aggressively lower. This could be seen as a sign that the recent bearish trend has run its course. Similarly, ... (full story)