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Message: [QUOTE="Zerologic, post: 235715, member: 126754"] [ATTACH type="full"]29140[/ATTACH] EURCHF plummeted after a retest near MA 50. EURCHF yesterday drew a long body bearish candlestick with almost no shadow. The price fell from a high of 0.95657 to a low of 0.94842 and back to near the middle band line. The SnB rate is currently 1.25% while the ECB rate is 4.25%. Traders sometimes use high interest rate differences to carry out trade strategies. CHF is a safe-haven currency because Switzerland has political stability and low inflation and this was proven when the global instability of the 2008 financial crisis occurred, investors switched to CHF and pushed its value higher. Factors influencing the EURCHF value include ECB and SNB monetary policy, GDP, Employment change, industrial production, CPI, etc. Other pairs that are positively correlated with EURCHF include CADCHF and USDCHF. Meanwhile, pairs with negative correlations such as CHFJPY, and CHFSGD. [/QUOTE]

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