EURCHF Buyers Are Set to Yield More Buying Moments

Updated:

EURCHF Analysis – June 7

EURCHF buyers are set to yield more buying moments as bull momentum continues toward the 1.04950 key zone. The buyers of the EURCHF market had setup price moments following a strong liquidity drop of bearish sales from 1.04950 down to 1.02140 key levels. When the bears manipulated the EURCHF value to this level, there was an unwillingness by the sell traders to keep plunging downward. Therefore, the buyer trader begins to set up trades as the sellers get rejected near the 1.02420 key zone. EURCHF buyers are therefore poised to yield additional buying moments as bull momentum continues toward the 1.04950 key level.

EURCHF Market Levels

Resistance Levels: 1.06310, 1.04950
Support Levels: 1.02140, 1.00880

EURCHF Buyers Are Set to Yield More Buying MomentsEURCHF Long Term Trend: Bullish

EURCHF price volatility structure has elicited responses from buyers and sellers alike. The bearish trend has been in control of the market until the recent appearance of bullish activity. Following the price decline that caused a major level, 1.06310, to be broken, retest activity was again observed in the market. The buyers of the EURCHF market were able to keep the price value above the crucial zone of 1.00880.

The price is gradually making its way up towards important thresholds around 1.04950. The bullish order that has currently been opened to the 1.04950 critical zone indicates that the momentum of the Euro-Swissy pair is steadily gaining strength. The Stochastic RSI (Relative Strength Index) indicator shows that the market is continuing to move forward in a bullish direction.

EURCHF Buyers Are Set to Yield More Buying MomentsEURCHF Short Term Trend: Bullish

The candlestick is gradually gaining strength. The buy traders should expect more of a boost in the price tendency as EURCHF value is poised to yield additional buying moments as bulls’ momentum continues toward the 1.04950 key level.

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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.