Downward movement means strengthening of the Swiss franc and weakening of the euro. The ECB meeting will take place on June 10th. No change in the 0% rate is expected. However, the European regulator may extend the Pandemic Emergency Purchase Program or change its parameters. ECB now spends 20 billion euros a week on buying back bonds and other assets. At the same time, preliminary inflation in the Eurozone in May reached 2% in annual terms, which is the highest since October 2018. The asset repurchase program is influenced by inflation, but the ECB has periodically stated that it is targeting core inflation, which is now much lower than normal at 0.9%. Slowdown in the German economy in the form of a fall in the German ZEW Economic Sentiment Index in June may serve as an argument for maintaining economic stimulus. In turn, positive data on the labor market came out in Switzerland in May. Unemployment fell to its lowest level since March 2020 at 3%.
| Indicator | VALUE | Signal |
|---|
| RSI | | Sell |
| MACD | | Buy |
| MA(200) | | Sell |
| Fractals | | Sell |
| Parabolic SAR | | Sell |
| Bollinger Bands | | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 1,09 |
| Stop loss | Above 1,1 |