EURCHF Bullish Trend Reverses at 1.00000 Resistance
Login

EURCHF Bullish Trend Reverses at 1.00000 Resistance Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


Market Analysis – October 27

EURCHF bullish trend reverses as the price encounters resistance at the 1.00000 level. Subsequently, the price made a series of lower lows, breaking through the demand level at 0.95250.

EURCHF Key Levels

Demand Levels: 0.95250, 0.94100, 0.93000
Supply Levels: 0.97000, 0.98350, 1.00000

EURCHF Bullish Trend Reverses at 1.00000 Resistance

EURCHF Long-Term Trend: Bearish

The price level of 0.94100 has provided support for a bullish trend. The test of the support level fostered a bullish shift in market structure in September. However, the bullish price action came to an end when it reached the supply level of 1.00000.

The resistance at the 1.00000 level has resulted in a shift to establish a downward trend. This has led to the creation of lower lows and a bearish momentum in the price.

The bearish momentum has now breached the demand level at 0.95250 and is aiming for the next level at 0.94100. However, a pullback is expected as indicated by the Relative Strength Index (RSI), which shows that the price is currently in the oversold region at 30.0.

EURCHF Bullish Trend Reverses at 1.00000 Resistance

EURCHF Short-Term Trend: Bullish

Despite the bearish nature of the overall price action, there is a potential for a pullback indicated by the RSI on the Daily timeframe. This is evident from the price action above 0.94100 towards the bullish direction, with expectations of reaching the order block at 0.97000.

 

Do you want to take your trading to the next level? Join the best platform for that here 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News