EURCHF Bulls Consider Upward Movement in the Market

EURCHF Price Analysis – March 29

EURCHF bulls consider upward movement to the market’s significant 1.06040. Therefore, the buyers in the market are making plans to put bearish moments on hold, thereby pushing price activity upward. The bulls came into view after a drawdown by the sellers to the 0.99720 significant level. However, with enough strength, they could influence price tendency above the 1.01820 significant level in the market. Before another ride begins, the price went back for a retest at 1.01820, and the buyers are currently engaging the price tendency upward.

EURCHF Market Zones

Resistance Zones: 1.06050, 1.09540
Support Zones: 1.18200, 0.99720

EURCHF Long Term Trend: Bullish

The price structure on the 1-day chart is generally in a downtrend format. The price tendency broke through key levels that were unwilling to hold on to the market. After a retest at the 1.09540 significant level, the sellers comprehended the price movement. EURCHF is further viewed as continuing downward, breaking through the 1.06040 price level. The Moving Average crossing indicator signal acts like a resistance line along with the price movement, following a downtrend format.

The price structure then went back to the 1.06040 important level to see if it could go even lower in the market. The bearish force eventually ended in the market as EURCHF arrived at the 0.99720 significant zone. The buyers are currently pushing the price influence as the MACD (Moving Average Convergence and Divergence) indicator shows price distribution in the bulls’ province. The market is therefore expected to reach the 1.06040 significant zone.

EURCHF Short Term Trend: Bullish

On the four-hour chart, the market is expected to rise. The buyers in the market are already buying off-price orders around the 1.01820 significant level. When bull pressure continues to increase, the buyers will drive the price tendency to the 1.06040 significant level in the market. Using the MACD indicator, we can see that the price signal has changed from the seller’s side to the buyer’s side above the middle level. This means that prices are plausible to rise to the 1.06040 significant level.

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