EURCHF Bulls Edge the Market but Bearishness Persists

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


EURCHF Price Analysis – January 4

EURCHF bulls edge the market, but bearishness persists. Buyers finally set up a barricade at 1.03710, which was able to edge the market in their favor. Therefore, price breaks out of a long-draw descending channel on the 6th of December using a bullish engulfment candlestick pattern. However, bulls were able to kick on from here as the bearish pressure persists in the market. Therefore, the price hasn’t been able to climb past 1.04520 but has instead dropped lower.


EURCHF Significant Levels

Resistance Levels: 1.04520, 1.06070, 1.09330
Support Levels: 1.03710, 1.03270, 1.02260

EURCHF Bulls Edge the Market but Bearishness PersistsEURCHF Long Term Trend: Ranging

Bears have been on a free course in the market right from the beginning of the last quarter of the year 2021. During this period, the fall in the price was through a descending channel and violated all key levels and barricades found along the line path. This continues till the bulls grew stronger and strengthened at the 1.03710 support level to put a stop to the plunge in price and break out of the descending channel.

Despite edging the market out of a steep decline, EURCHF is now set for an indefinite-ranging phase as bears still retain a level of influence in the market. The price is now confined between 1.04520 as resistance and 1.03270 as support. The Parabolic SAR (Stop and Reverse) still points to a predominantly bearish market by aligning several dots above the daily candles. The Stochastic Oscillator shows a climb above the oversold level, but the lines remain generally in the bearish half.

EURCHF Bulls Edge the Market but Bearishness PersistsEURCHF Short Term Trend: Bearish

Having failed at least three times to break through the 1.04520 resistance, the market is in a downtrend again, albeit a gentle one. The market is undulating through a descending channel. The price is now dropping after crashing against the upper border of the channel and is set for a drop. This is confirmed by the Stochastic Oscillator, which has crossed downward from an overbought position.

You can purchase crypto coins here: Buy coins

Note: Learn2.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
  • 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

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.

Leave a Reply

Your email address will not be published. Required fields are marked *