EURCHF Begins Consolidation; Price Expected to Rise Afterwards

Updated:

EURCHF Analysis – September 13

EURCHF begins consolidation above the 0.96140 significant level. The market recently experienced a downward tenure which touchdown to record a new low level at 0.95550. From there, the bulls have been pushing their weight to raise the price back to a higher significance level. The 0.98360 critical region is constituting a barrier to the upward flow and hence, the price begins a sideways motion.

EURCHF Key Zones

Supply Zones: 0.98360, 0.99760
Demand Zones: 0.96140, 0.95550
EURCHF Begins Consolidation; Price Expected to Rise AfterwardsThe effort of the bulls was unable to hinder the crash that EURCHF was stuck in. Not even a disruptive strategy executed from early December 2021 to mid-June 2022 could hinder the fall, as soon as the strategy was over, EURCHF resumed its fall with greater intensity. This culminated in EURCHF dropping to a new record low price at the 0.95550 significant zone.

After these series of events, the selling tendency of the market was eased, thereby allowing the buyers to execute some changes to the market level. Therefore, the price bounces right off the 0.95550 support and created a solid base at the former support of 0.96140. Further attempts to rally were stopped at 0.98360. Currently, EURCHF is dropping back to the key zone at 0.95550 demand level.

EURCHF Begins Consolidation; Price Expected to Rise Afterwards

Market Expectation

On the higher time frame chart (daily), the market has gyrated to the downside of the EMA period 24 (Exponential Moving Average) after rejection at 0.98360. This is the same as on the 4-hour time frame. The MACD (Moving Average Convergence Divergence) strings on the higher time frame (daily) has stopped short of rising above the zero mark and is about to turn downward. They have crossed downward on the 4-hour chart. The price is expected to turn back upward at 0.95550.

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.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.