EURCHF Breaks Out of Symmetrical Triangle

The EURCHF pair has confirmed a breakout beneath a symmetrical triangle pattern on the daily chart. This pattern had been forming due to a series of lower highs and equal lows, with the 0.93340 demand level acting as a strong support zone. The recent price action decisively breached this support, confirming a bearish breakout and reinforcing the continuation of the long-term downtrend.

EURCHF Long-Term Trend: Bearish

The confirmed breakout from the symmetrical triangle has solidified bearish momentum. The price’s aggressive push below the 0.93340 demand level has likely trapped buyers while encouraging additional short positions from breakout traders.

The Hull Butterfly Indicator signals intensified selling pressure, with pronounced red hues indicating strong bearish displacement. The formation of lower highs on the daily chart continues to add downward pressure, supporting a potential move to test lower demand zones in the coming sessions.

EURCHF Short-Term Trend: Bearish

On the 4-hour chart, the breakout was preceded by a bearish order block rejection, reinforcing selling momentum. A significant bearish candle validated the breakout, showing strong follow-through beneath the previous support zone. This confirms the start of a new bearish leg, with sellers firmly in control.

The recent breakout creates new resistance at the 0.93340 level, with any retracements likely to face selling pressure at this zone. The previous support level can now serve as the entry price for shorts on forex signals. Traders can watch for shorting opportunities on pullbacks, targeting lower support areas.