 Good morning and welcome to the Church of the Week video with me, David Madden. Today's date is Friday, the 3rd of July, 2020, and the time has just gone 11.45 for this summer time. And this week's Church of the Week is the Euro-Swiss. We can see here that Euro-Swiss was in a very aggressive downtrend for most of the 2020. In fact, in mid-May, it would not have hit its lowest level in five years. So a good indication of how aggressive the downward trend was in. That was partially done with the fact that the Eurozone has been hit hard by the coronavirus crisis. There's various different stimulus packages in the pipeline. On the other side of the divide, the Swiss franc is a classic, well-known, safe-hate-and-play. So while traders are in risk-off mode, they're happy to plow funds into the Swiss franc. So hence the major decline in Euro-Swiss. But since then, mid-May through to early June, so a decent rebound, Marcus don't move in straight line. So after that multi-year low, we did claw back some of the ground that was lost. But if we look at the price action over the past month, really, we can see a nice series of lower lows and lower highs. So it could be now you look to fall back into the wider downward trend. We can see now that the price action over the last couple of days, the trading range has been low. There's a very long week on Wednesday's candle on the 1st of July. It seems to me there's a bit of indecision of which way the market is going to go. But keep in mind, it's been in a downward trend for the last three weeks. We can see here that the one reading would be average. This yellow line here, which comes into play at one spot, 06.11, acted nicely in support a couple of days ago on Wednesday, the 1st of July to that. And we can see that metric was acted there. They're about important as an area of resistance and also support in late May. So that metric appears to be important if we can hold above us to the chance that we could look to get a press on higher and continue the kind of the upward trend from May onwards. But if we besides a break below us, I could I could pave the way for further losses and it could take us back down towards the late May low in at one spot, 05.76, this area here. And if you have a decent break below that, there isn't really much else to look off or except the 105 area down around here. But keep in mind, things would probably have to get pretty bad because we get back to those five-year lows. On the flip side, if we could hold above the water degree of the average, if it continues to act in support, we could see the market retest the recent highs just shy of this area here, just shy of one spot 07. And if you go beyond that, we could be looking ahead towards this red line here, the 30 movie average at one spot 07, 47. And notice how the 30 movie average acted nicely as resistance here. We had the lower low, we had the lower high, we had the rebound into it. Hit off the 30 movie average and then hit another lower low. So that metric actually had resistance in the past, so it makes it likely that it will do so in the future, although there are no guarantees. And if you do get above that, we could take this up towards a kind of one-way sold here. And then if you go beyond that, we could have been looking at retesting the highs of early June. That's all for this trading session. Stay safe, have a good trading week, and good luck.