EURCHF is trapped between major levels

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 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 Analysis: September 20

EURCHF is trapped between the resistance level at 0.980 and the support level at 0.960. The bulls attempted a breakout above the 0.980 supply zone but failed. The market crashed back to the previous support level.

EURCHF Major levels

Resistance levels: 1.050, 0.980
Support levels: 1.010, 0.960EURCHF is trapped between major levels

EURCHF Long-Term Trend: Bearish

EURCHF formed a symmetrical triangle during the first half of the year 2022. This was followed by a bearish breakout on the 16th of June. A double top reversal pattern was formed below the supply zone at 1.050 to signal a bearish breakout. The bears dived vigorously to break the bullish trend line. The Parabolic SAR (Stop and reverse formed above the large bearish candle that caused the breakout. The bears have dominated the market and the price has plunged to the support level at 0.960.

EURCHF dipped to the oversold region at 0.960 in August. The RSI (Relative Strength Index) revealed the exhaustion of the bears. The bulls utilized the opportunity to gather momentum at the demand zone to rally. Three white soldiers formed as the market launched away from the demand level. The recent high at 0.980 was swept by the bulls to attempt a change in the market direction.

EURCHF is trapped between major levels

EURCHF Short Term Trend: Ranging

EURCHF is currently gyrating between the major levels of 0.980 and 0.960. There was a shift in market structure at the 0.980 supply zone. The market formed lower highs and lows to lead the price back to 0.960. The bulls have leapt off the demand level to soar to the next resistance level. On the four-hour chart, the Parabolic SAR is currently supporting the bullish run towards the upper border of the range at 0.980. The RSI is also bullish on the four-hour timeframe.

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.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
$200 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 *