EURCHF Buyers Fail to Hold Above 1.08360

13 October 2021 | Updated: 13 October 2021

EURCHF Price Analysis – October 12

EURCHF buyers fail to maintain their hold above the 1.08360 key level and the market has taken a nosedive to 1.07230. On its way down, the price was intercepted at various significant levels which including the 1.07830 and the 1.07390 levels. The failure of buyers to keep a hold above the 1.08360 key level has now ceded the market to sellers who have plunged the price into bearish territory.


EURCHF Important Levels

Resistance Levels: 1.07830, 1.08200, 1.08930
Support Levels: 1.07390, 1.07230, 1.07010

EURCHF buyers failEURCHF Long Term Trend: Bearish

Buyers only mustered strength on the 24th of August after price had fluctuated around the 1.07230 price level. EURCHF rose immediately to 1.07830, where a small retracement occurred before the market continued its upward trajectory. Another retracement occurred below the weekly resistant zone at 1.08200 in which price pulled back to 1.07830 to spring past the weekly resistance line.

Going forward, bulls initially fail at the next significant level at 1.08930, but a double retest back to the strong weekly zone drives the market upward. Buyers could only manage to reach the 1.09320 level before the market fails again. Thereafter, price plunges back to the strong weekly zone. Buyers tried to maintain the market at this level. After seven trading days, the market plummeted.

EURCHF buyers fail EURCHF Short Term Trend: Ranging

The market remains on a downtrend, confirmed by the EMA period 50 (Exponential Moving Average) hovering above the 4-hours candles. However, unlike the daily chart where the EFI (Elders Force Index) had plunged deep into a negative value, in the short term (4-hour chart), the force line has risen to a positive value. This is a pointer to the volume of buyers working in the background to lift the price again. Currently, the market is fluctuating around 1.07230 and buyers try to wrestle the market off the sellers. If they are successful, EURCHF will first climb to 1.07830.

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EURCHF Is Approaching Strong Reversal Support Levels

5 October 2021 | Updated: 5 October 2021

EURCHF Price Analysis – October 5

EURCHF is approaching strong support levels after slipping off the 1.08360 stronghold. On its way down, price tried to revive around the 1.07830 price level on October 1st, but the market was ultimately beaten down and the euro remained in a weakening position against the Swiss franc. The downward liquidity rush is now approaching a series of strong support levels which are capable of causing a market reversal.


EURCHF Critical Zones

Resistance Levels: 1.07830, 1.08360, 1.09320
Support Levels: 1.06720, 1.07010, 1.07230

EURCHF is approaching strongEURCHF Long Term Trend: Bullish

The support levels which lie especially at 1.07230 and 1.07010 were responsible for keeping the bears at bay from the 3rd to the 25th of August. This allowed buyers enough time to gather momentum and overturn the market. The euro was then pumped till it encountered strong resistance at 1.08930. This led to a drop to a strong support level which helped the market bypass the 1.08930 resistance.

Bears clicked into gear once the market reached 1.09320 and a bearish engulfment candlestick was used to drive the price downward. EURCHF tried to hold above the 1.08360 strong zone, but it has slipped down under bearish pressure, also breaking through the MA period 50 (Moving Average) which initially kept it up. The Stochastic Oscillator has been gliding sideways in the oversold region, giving the buyers some time to work with to overturn the market.

EURCHF is approaching strongEURCHF Short Term Trend: Bullish

The market remains on a downtrend on the 4-hour chart as the MAs sleep above the 4-hour candles. The market is currently reacting above 1.07390. This also happened at the 1.07830 price level before price dropped. Therefore, the market is still expected to drop further, at least to 0.7230 before bulls begin engineering a market reversal.

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EURCHF Bulls Have Run Out of Steam to Continue Their Rally

28 September 2021 | Updated: 28 September 2021

EURCHF Price Analysis – September 28

EURCHF bulls have run out of steam in their bid to take the market upward. This comes after the market had powered through the 1.08190 barrier. Signs of weakness for the bulls began to surface at 1.09000. Price immediately dropped back to find support on 1.08190. EURCHF fluctuated in this zone for the next 6 days before it pushed above it, only for the bulls to tire out and drop the market once more below 1.08190.


EURCHF Key Levels

Resistance Levels: 1.09000, 1.09970
Support Levels: 1.08190, 1.07200

EURCHF bulls
EURCHF Long Term Trend: Ranging

The reason for the belabored activity of the bulls is because they are trying to drive the market against the immense bearish pressure the EURCHF has been consistently subjected to for the past 5 months. The bulls only began their campaign on the 9th of August. The initial effort to lift the market was rebuffed just around that same 1.08190 key level. Therefore, much energy had to be expended on the second trial.

Having powered through the 1.08190 critical level, bulls are left struggling to continue the campaign. Currently, the price has dropped back to 1.08190, and in the process, also dropped below the MA period 20 (Moving Average). The RSI (Relative Strength Index) indicator shows that the current state of the market on the daily chart is in equilibrium, having dropped around the 50 mark of the RSI chart. The market is left to who wants it more – buyers or sellers?

EURCHF bulls EURCHF Short Term Trend: Bearish

The market continues in a sideways trend on the 4-hour chart. Price can be seen undulating up and down the MA period 20 in the process. The RSI of the 4-hour chart also depicts a wavy movement of its signal line, however, below the middle line. This gives a bearish bias to the market at the moment, which means price could drop back to 1.07200. New momentum for the bulls could push the market to a retest at 1.09000, which could push price up to 1.09970. A drop looks more likely.

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EURCHF Is Reacting at the 1.08700 Significant Level

21 September 2021 | Updated: 21 September 2021

EURCHF Price Analysis – September 21

EURCHF is reacting to the 1.08700 significant level. Since bouncing off the 1.07400 support level, price has been in a strong bullish move. This can be seen with 8 consecutive bullish candles which lifted the market above the 1.08700 key level. However, since climbing around this level, EURCHF has been reacting by dropping below and bouncing above the level repeatedly with volatility.


EURCHF Important Zones

Resistance Levels: 1.08700, 1.09190, 1.09860
Support Levels: 1.08330, 1.07830, 1.07400

EURCHF is reactingEURCHF Long Term Trend: Bullish

The market has overturned a previously bearish tenure to a bullish one, using the 1.07400 support level. The influence of the support level extends to 1.07000. When price sank to the level on the 30th of July 2021, it plunged a little lower before reversing upwards after displaying two spinning top candlesticks. EURCHF then sprang up from there, only to be repelled at 1.08330, which plunged the price back below 1.07400.

Once again, EURCHF sprang up after reacting to the support zone, retesting the level as it surged higher with more volatility. The market was able to bypass 1.08330, but it stopped short and started undulating around 1.08700, which is a tension zone between bulls and bears. Despite the fluctuation at this level, the Parabolic SAR (Stop and Reverse) has much more dots below the daily candles than above it, which implies more bullish dominance. The Relative Strength Index indicator also remains in the buying half.

EURCHF is reacting EURCHF Short Term Trend: Bearish

The market is currently bearish in the short term on the 4-hour chart, which is confirmed by the Parabolic SAR, which currently has the dot aligned above the 4-hour candlesticks. Also, the RSI line has plunged to the selling half. Despite the short-term bearish activity, the market has generally been making a higher high and a higher low to fit the market into an expanding triangle pattern.

EURCHF is expected to make a reversal anytime soon, which will lift the market to 1.09190, where it is expected to break out to continue the upward movement.

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EURCHF Bulls Press On in Bullish Foray

14 September 2021 | Updated: 14 September 2021

EURCHF Price Analysis – September 14

EURCHF bulls press on with their bullish sentiment. The market overturned the decline in price which had ravaged the market for several weeks when it touched down at 1.07200 on the 5th of August 2021. The new rally was initially resisted at 1.03480, but a strong rebound from the 1.07200 support helped the bulls press beyond 1.08340. This move formed the market into a double bottom formation.


EURCHF Important Zones

Resistance Zones: 1.09970, 1.09000
Support Zones: 1.08340, 1.07200

EURCHF Bulls Press On in Bullish ForayEURCHF Long Term Trend: Bullish

The current bullish rally is a direct reversal from the bearish slide which the market experienced several weeks earlier in the year from the 3rd of March 2021. It was the drop beyond the uptrend on the 8th of July that triggered the bulls to start taking action towards recovering the market. The very first point of opposition came at the 1.09340 support, but the downward pressure pushed it through. But this was not to happen, as the next support level was at 1.07200.

The 1.07200 support’s influence had reached 1.06780, so it was thick enough to push price back upwards, as it had in the past. NZDUSD has now been pushed by the double bottom chart pattern above the 1.08340 key level. Price has dropped back to retest the level to press higher. The signal line on the Relative Strength Index indicator has bounced off the middle line to shoot upwards.

EURCHF Bulls Press On in Bullish ForayEURCHF Short Term Trend: Bearish

The market is now dropping for the second time after hitting 1.09000. The second drop will lead the price to a second retest of the support at 1.08340. which will then push the price higher. Both the RSI and the Stochastic Oscillator acknowledge the current market retracement. The Stochastic Oscillator, in particular, has dropped from the overbought region to the 50 level and it is set to drop lower as the price falls for a retest at 1.08340.

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EURCHF Bulls Push the Market up Using a Double Bottom Chart Pattern

8 September 2021 | Updated: 8 September 2021

EURCHF Price Analysis – September 8

EURCHF bulls push the price up using a double bottom chart pattern. This effect a reversal of the market direction, putting a stop to the decline in price. The gradual fall in price stretches as far back as the 4th of March 2021, after EURCHF surged to the 1.11550 key level. Despite the gradual decline in the market, price remained in an uptrend till it broke through the uptrend line on the 8th of July 2021.


EURCHF Key Zones

Resistance Levels: 1.09970, 1.11550
Support Levels: 1.08340, 1.07200

EURCHF bulls EURCHF Long Term Trend: Bullish

Bears dropped with great intensity to break the downward trend line, after which the market lost some momentum. It then consolidated above the 1.08340 level before bears revived to plunge the market further. Price fell back to retest the 1.08340 level before plummeting to 1.07200, a strong weekly support level. The support level bounced the market up immediately.

Price was rejected at 1.08340, cutting the price rally short, but bulls regrouped at the 1.07200 weekly price level to pump the market again. This upward move forged the market into a double bottom pattern, which has now broken past the 1.08340 resistance level. In so doing, price is now trading close to the upper band of the Bollinger Band, with its middle line acting as support. The Moving Average Convergence Divergence currently shows strong bullish histogram bars and its lines are upward abounding to show that the market is full of bullish vigour.


EURCHF Short Term Trend: Bullish

The 4-hour chart shows that there was a brief period of consolidation at the 1.07200 support level before price rose a second time. And in rising, the market has been bouncing on the middle line of the Bollinger Band on its way upward. However, in the past 12 hours, price fell through to the lower Bollinger band, which has, in turn, pushed it up and above the upper Bollinger Band.
EURCHF bulls The MACD bearish bars indicate that the price experienced a temporary blip in momentum but is now recovering, as evidenced by the most recent rising bullish bars. Meanwhile, the MACD lines remain high above the zero level, and there is a further cross upwards.

The market retains its strength and will now look to reach 1.09970.

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EURCHF Is Approaching a Key Level and Set to Reverse Its Direction

31 August 2021 | Updated: 31 August 2021

EURCHF Price Analysis – August 31

EURCHF is approaching a critical zone and it is expected to reverse its direction. The market appears to be ranging between the 1.08410 resistance key level and the 1.07150 support key level. The bulls and bears continue to battle for dominance as price approaches this level, producing a double bottom chart pattern. EURCHF is set to reverse direction as the market approaches the 1.08410 resistance key level.


EURCHF Significant Zones

Resistance Levels: 1.08410, 1.0800
Support Levels: 1.07410, 1.07150

EURCHF is approaching EURCHF Long Term Trend: Bearish

The market first broke down in a bearish direction around the major resistance level of 1.08410. As the market begins to retest this key level of 1.08410, there appears to be a pullback. Price subsequently rebounded lower, reversing at the key level of 1.07150. As it approaches the 1.08410 resistance key level, EURCHF breaks through many significant levels. The Bulls continue to drive the price higher, and a reversal is unavoidable.

The MACD (Moving Average Convergence and Divergence) indicator reveals that EURCHF is continuing to approach the key level of 1.08410. This suggests that the price will continue to rise before resuming its downward trend. The MACD also shows an increase in the green histogram, indicating the market’s bullish momentum. The stochastic Oscillator, on the other hand, shows the moving average approaching the 80.00 mark. This means that the price will change direction when it approaches the overbought area.

EURCHF is approaching EURCHF Short Term Trend: Bearish

There was a retest at the 1.07150 key level on the 4hr chart. When the price broke through 1.07410, there was a significant pullback before the rally. This is due to the conflict between buyers and sellers in that zone.

EURCHF is now retesting 1.0800 before nearing the key milestone of 1.08410. Multiple crosses are produced by the MACD when it is above the 0.00 level. This suggests that the bullish market is coming to an end. The Stochastic Oscillator is also above 80.00, indicating an imminent reduction in bullish momentum as the market prepares to reverse.

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EURCHF Keeps Retesting Zones as It Continues to Range

25 August 2021 | Updated: 25 August 2021

EURCHF Price Analysis ­– August 24

EURCHF keeps retesting between the 1.0070 resistance key level and the 1.0700 support level. The market has been kept back by its bearish trend. This is due to price rejection between the two key zones. The EURCHF market has been battling to continue its bearish trend and has been retesting. Price is anticipated to gain a little bullish momentum as it maintains its accumulation level.


EURCHF Significant Zones

Resistance levels: 1.07700, 1.09050
Support levels: 1.07000, 1.08350

EURCHF keeps retestingEURCHF Long Term Trend: Ranging

The market began to tumble and move in a bearish trend after a retesting of the 1.0905 resistance key level. After accumulating between the 1.08350 and 1.07700 key levels, this trend gained strength. Following that, the price breaks out in a bearish direction. There appears to be a pullback as the market begins to retest the key level of 1.0770. Several price rejections have occurred near this key level. Because of the price accumulation around this level, the EURCHF price may either gain more bullish strength or continue in its bearish direction.

However, the market has maintained a significant range between the 1.07700 resistance level and the 1.0700 support level. Price will continue to accumulate before a breakout can occur. The stochastic Oscillator on the daily chart gives a cross around the 50 level. This indicates market indecision as its ranges. This demonstrates that neither the bears nor the bulls were willing to make a decisive move lower or higher as the market continued to range, retesting key levels.

EURCHF keeps retesting EURCHF Short Term Trend: Ranging

On the 4-hour chart, the market is still in a range and retesting key levels. As more dots are displayed on the Parabolic SAR (Stop and Reverse). This indicates a bearish continuation. The Stochastic Oscillator indicates an oversold condition, indicating that the market is likely to reverse near 1.07700. This reversal could be a retest of the key resistance level of 1.07700 or a break above it.

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EURCHF Bearish Campaign Continues

17 August 2021 | Updated: 17 August 2021

EURCHF Price Analysis – August 6

EURCHF bearish campaign has progressed after bulls failed to hold above the 1.08250 key level. The market has been in a downtrend for months since the 4th of March 2021. The bearish campaign can be described as slow and steady as price has been moving down in an undulating manner. The market also weathered many obstacles it had met on its way downward. Notably is the 1.08700 support level.


EURCHF Key Levels

Resistance Levels: 1.07400, 1.08700, 1.10300
Support Levels: 1.06700, 1.06000, 1.05120

EURCHF Bearish Campaign ContinuesEURCHF Long Term Trend: Bearish

The 1.08700 key level has previously been responsible for keeping the market in consolidation from late last year into the early months of this year. When EURCHF broke above it, it was the surge upwards that triggered the bearish campaign. It was thought that the level would prevent bears from falling further, but the bears only bounced up from it the first time and pierced through it the second time.

EURCHF broke through 1.08700 and slid down further below it. The market is now facing 1.07400, which was the support that kept the market in consolidation with 1.08700 at the beginning of the year. The 1.07400 support is a stronger zone than previous ones as its range extends to 1.06700. This key level is now testing the bears’ resolve. Price has bounced off it once on the 6th of August, and like with previous resistance levels, the market has fallen back to confront it.

EURCHF Bearish Campaign ContinuesEURCHF Short Term Trend: Bearish

It can be noticed that bears also increased their momentum before falling to 1.07400. This made the price push out of the descending channel. After bouncing off the support zone, it was the middle line of the channel that knocked the price down again. The MACD (Moving Average Convergence Divergence) is showing only strong bearish histogram bars at the moment. This is in conjunction with the MA period 14 (Moving Average) moving above the 4-hours candle.

These are all indications that bears are not letting up. They have met the strong support with increased momentum. The market is looking very able to drill through the support zone to reach 1.06000.

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Bulls Overturn the Market at Critical Support; EURCHF Set for Direction Change?

10 August 2021 | Updated: 11 August 2021

EURCHF Price Analysis – August 10

Bulls overturn the market when it seems as though sellers will dig deeper. The price began a decline on the 4th of March 2021, though still on an uptrend line. The fall of the market was confirmed when it drilled through the uptrend line to go lower on the 8th of July 2021. Bulls have now employed the services of the 1.07200 – 1.06780 support zone to repel the fall in the market, but is the bearish cycle truly over?


EURCHF Key Levels

Resistance Levels: 1.11550, 1.09970, 1.08480
Support Levels: 1.07200, 1.06780, 1.06040

Bulls overturn the market EURCHF Long Term Trend: Ranging

The critical support zone between 1.07200 and 1.06780 has accomplished the same task of preventing further market decline previously. This occurred from the 13th of October until the 9th of November last year. This was the foundation on which the market eventually ascended to its 2-year high at 1.11550. This is the consideration with which we also believe that the zone will effect a change in the direction of price.

However, the 1.08480 resistance is the test to see if bears are well and truly beaten or if they are lurking in the shadows. Once EURCHF successfully subdues 1.08480, then it has to find a way to go above the uptrend line. The Relative Strength Index indicator shows that the market is currently at equilibrium. Whatever happens at the 1.08480 resistance will determine whether the bears will retain power over the market.

Bulls overturn the market EURCHF Short Term Trend: Bullish

In the short term, however, EURCHF is still infused with bullish vigor. We can expect the market to test the 1.08480 resistance and try to climb the uptrend line. The MACD (Moving Average Convergence Divergence) is currently displaying dwindling histogram bars. This means the strength behind the bullish push is depleting despite the upward movement of the 4-hour candles. This is likely a retracement before the bulls overturn the market and shoot further up.

EURCHF is likely to keep moving up till 1.08480. Its success here will push it further to the uptrend line for further action.

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