EURCHF Is on Course to Reach Its Lowest Ever Level

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 – August 2

EURCHF is on course to drop to its lowest ever level. The price broke out of an ascending channel on the 16th of June, and since then, the bears have defended the market from all bullish interference. As a result, the market proceeded downward, dipping through several key levels to reach the 0.97200 significant demand level. EURCHF is now just one level away from reaching a new record low price level.


EURCHF Significant Levels

Resistance Levels: 0.99760, 1.04950
Support Levels: 0.96580, 0.97200

EURCHF Long-Term Trend: Bearish

The bears brought a long trend of bearish movement into November 2021. However, the buyers were determined to reverse the market, having failed previously. They chose the 1.03270 critical level to resist the bears. The fall was halted temporarily as a struggle for dominance took place. The sellers eventually breached the level, but EURUSD pushed against the pressure to drive the market back above.

The price rose until it reached the bears’ critical zone at the 1.04950 resistance level. The price first tested the level and then pulled back. It got support from 1.02470 to rise back to 1.04950. Sellers stood firm against the market. After a while, the price plunged and dropped below its ascending channel. The Parabolic SAR (Stop and Reverse) dots line above the daily candles to show a definite downtrend movement.

EURCHF Is on Course to Reach Its Lowest Ever LevelEURCHF Short Term Trend: Bearish

The market continued its downtrend, violating several key levels till it reached the 0.97200 demand level. The Stochastic Oscillator has been plunged into an oversold status for a while on the daily chart, while it is just about to drop into the oversold region on the 4-hour chart. EURCHF is set to match its lowest ever level at 0.96580 if it drops lower, and it could even attain a new record low level.

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.