Eurchf Bear Continues Breakdown in Price Analysis

Updated:

EURCHF Analysis- June 14

EURCHF bear continues to break down as buyers were unable to break through the 1.04950 key zone. As a result of 1.04950 being a strong resistance point on the Kiwi price, the buyers were unable to sustain themselves above this region. What was witnessed was a strong reversal. And as the price is reacting at this key level, it makes it a strong order block for market prospects to look out for.

EURCHF Significant Levels

Resistance Levels: 1.04950, 1.03800
Support Levels: 1.02270, 1.00830
EURCHF Bear Continues Breakdown in Price Analysis

EURCHF Long Term Trend: Bearish

EURCHF Price has had a consistent bullish reverse at this strong resistance zone. The bears are currently disposing of price weight downstream. With the short-sellers currently selling short, the buyers do not have any capability to penetrate the market. With price displacement from the stronghold of the 1.04950 key level, the sell traders are now selling short. this is to break through the next significant level which is the 1.03800 price level.

Despite this price level having a resistance stronghold, the retail sellers are still selling off EURCHF value to break through it. The Moving Average Crossing has indicated a golden cross and sellers are still prompted to slide through the 1.03800 key level. As sellers keep moving the price on the daily chart, the Chaikin Money Flow Index is about to cross through the middle.
EURCHF Bear Continues Breakdown in Price Analysis

EURCHF Short Term Trend: Bearish

EURCHF price on the 4hr chart, the buyers bought the price value at 1.04950 following a strong market pool to the 1.02270 key level. The sell traders are now lowering the market level again and the bearish strength is set to break through the 1.03800 significant level. The EURCHF price is therefore on a course to flow downward below the 1.03800 key zone.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.