EURCHF Enters Into a Ranging Phase to Gather Momentum

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


EURCHF Analysis – October 11

EURCHF enters into a ranging phase as the market’s buyers are trying to gather momentum to rise out of a depressed state. The buyers have been ineffective in stopping the currency pair from plunging to a record low. However, since the sellers are taking a breather, the buyers are utilizing the opportunity to strengthen themselves to push the market to a respectable price level.

EURCHF Critical Levels

Resistance Levels: 0.98360, 1.01010
Support Levels: 0.96140, 0.94000
EURCHF Enters Into a Ranging Phase to Gather Momentum

EURCHF Long Term Trend: Ranging

After the failed attempt to interrupt the buyers in the falling market in the 2nd half of the year, the price eventually drops hard. Further attempts to temper the drop in the currency were ultimately unsuccessful. The resistance level at 0.98360 blocked the last-minute increase in price. This all led to a record market low of 0.94000.

Having reached this level, the selling activity reduces in intensity, which allows the buyers to have some control over the market. The 0.98360 resistance remains impervious, but the market now assumes ranging mobility with 0.94980 acting as the support. Currently, the currency pairs are trading above the MA period 30 (Moving Average).
EURCHF Enters Into a Ranging Phase to Gather Momentum

EURCHF Short Term Trend: Bearish

The immediate action of the price is in a downward direction as the price continues to undulate. The candlesticks have traded to the downside of the MA period 30 on this chart. Also, the RSI (Relative Strength Index) line that is above the middle line on the daily chart has slightly dropped below it on the 1-hour chart. The market is bearish and will look to bounce off the $0.00949800

You can purchase Lucky Block here.  Buy LBLOCK

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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 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.