EURCHF Bears Successfully Led the Market Into the Demand Zone

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


EURCHF Analysis – July 26

EURCHF bears successfully led the market to the 0.9650 demand zone. Before reaching its local all-time high, the market had risen from a major support level of 0.9650. On April 20, 2018, the market reached its all-time high in the region. Since then, the market has been trending downward.


EURCHF Significant Levels

Demand Levels: 0.9980, 0.9650
Supply Levels: 1.0500, 1.1170

EURCHF bears successfully led the market into the demand zone.EURCHF Long-term Trend: Bullish

The demand level of 0.9650 is also the market’s all-time low since 2015. The rejection at the demand level drew more bulls into the market, causing it to break through every resistance level on its way up. The market remained bullish until a shift in market structure occurred following the attainment of the local all-time high. The change in the market structure after the local all-time high was reached resulted in an influx of sellers into the market.

The Relative Strength Index (RSI) indicates that prices always retrace when the market enters an oversold region. With additional confirmation from the Simple Moving Average (SMA), prices crashed into a lower demand level at 1.050. For a few days, the bulls drove the market into the supply zone at 1.1170. The supply level of 1.1170 was sharply rejected, and the market was driven downward.

EURCHF Short-Term Trend: Bearish

The market appears to be in a downward trend on the four-hour chart. The market trend will likely be lower for the next few days to enter the demand level at 0.9650 and change direction upward. As a result, a fakeout at the 0.9980 support level is possible because this downtrend may only last a few days.

You can purchase Lucky Block here – Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.