EURCHF Bullish Wave Continues to Surge

Market Analysis- March 19

EURCHF bullish wave continues to surge. The buyers have been relentless, pushing the price up to the 0.96350 key level. The Euro market has been on an upward trajectory since February, gaining momentum with each passing day. The buyers regained their scale from the significant level of 0.93070. Therefore, their intention became evident when they breached the key level of 0.94690. Although there was a slight price retest, the buyers quickly regained their stance and propelled the market forward.

EURCHF Key Levels

Resistance Levels: 0.9700, 0.95730
Support Levels: 0.95170, 0.94690

EURCHF Long-Term Trend: Bullish

Presently, the buyers have successfully breached the 0.96350 key level, indicating their determination to push the price even higher. To further support the bullish sentiment, let’s take a look at the technical indicators. The MACD (Moving Average Convergence and Divergence) is racing above the positive section, indicating a strong bullish trend. Additionally, the price oscillator indicator, although experiencing a losing streak, has not yet crossed below the 0.00 level. These indicators suggest that while the buyers may be losing some momentum, they are far from giving up on their stance.

EURCHF Short-Term Trend: Bullish

Zooming in on the 4-hour chart, we can see that the buying pressure continues to gain momentum. With each passing hour, more buyers are attracted to the market, driving the price closer to the key level of 0.9700. This level holds significant importance and could serve as a major milestone for the bullish wave in the EURCHF market.

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