EURCHF Continues Bearish Trend After Rejection
Login

EURCHF Continues Bearish Trend After Rejection from 0.99190 Supply Zone

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

Azeez Mustapha

Updated:

Market Analysis – February 7

EURCHF has resumed its bearish trajectory following a significant rejection from the 0.99190 supply level. This marked a key turning point, leading to a structural break and reinforcing the prevailing downtrend.

EURCHF Key Levels

Demand Levels: 0.94340, 0.92670, 0.90850
Supply Levels: 0.95810, 0.97590, 0.99190

EURCHF Continues Bearish Trend After Rejection from 0.99190 Supply Zone EURCHF Long-Term Trend: Bearish

Before this structural shift, the pair was already in sustained decline, forming consecutive lower lows. However, in early 2024, price action found temporary support at the 0.92670 level, triggering a strong bullish recovery. This rally was eventually capped at 0.99190, where a major high formed, leading to a bearish break of structure.
.

Following the structural break, the price retraced upward but found resistance at the 0.95810 support-turned-resistance level, reinforcing the bearish outlook. Additionally, a double-top pattern has emerged, further validating the continuation of the downtrend. The daily Relative Strength Index (RSI) indicates that the price reached the overbought region, suggesting diminishing bullish momentum and increased likelihood of further declines.

OANDA:EURCHF Chart Image by jereminze312EURCHF Short-Term Trend: Bearish

A closer look at the 4-hour timeframe reveals that the prior bullish retracement has been decisively breached, confirming the resumption of the bearish trend. With this shift still in its early stages, potential short-selling opportunities may arise.
.

Currently, the price targets a complete breach of the 0.92670 demand level, with the next key support level at 0.90850 as a potential downside target. If bearish momentum continues, further declines could be expected in the near term.

Make money without lifting your fingers: Start using a world-class auto trading solution

  • 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