EURCHF Marches Upward With a Surge to 1.06070


EURCHF Price Analysis – February 8

EURCHF marches upwards with a price surge to the 1.06070 critical level. The market eventually gains momentum from the 1.03270 support level. This lasts for seven days before the price marches past several key levels to reach 1.06070. EURCHF is now trying to negotiate its way past the resistance level.

EURCHF Critical Levels

Supply Levels: 1.06070, 1.07950, 1.09330
Demand Levels: 1.02260, 1.03270, 1.03710

EURCHF Marches Upward With a Surge to 1.06070EURCHF Long Term Trend: Bullish

In the last 4 months of the year 2022, the EURCHF market made a very sloppy dip from the 1.09330 significant level to the 1.03270 price level, which is a 5% price drop. Thereafter, buyers step into the market to resist the price fall and lift the mood surrounding the currency pair. This spirals into up to two months of back and forth movement in the market.

Eventually, buyers seemed to have more in the tank to take advantage of exhausted sellers. Therefore, the market was forged into a structure that bulls now take advantage of to drive the price up. In pushing upwards, EURCHF marches past the MA period 50 (Moving Average) which supervised the bearish regime. Buyers had to make significant volatility increase to do this, as shown by the ATR (Average True Range) indicator.

EURCHF Marches Upward With a Surge to 1.06070EURCHF Short Term Trend: Bullish

Having been confined to a medium-term consolidation, the buyers have finally broken free and are on the verge of more upside movement. An increase in market volatility, coupled with the MA period 50 actively acting as a support on the 4-hour chart, means EURCHF is set to climb higher. The market has pulled back for the first time upon reaching 1.06070. We now expect a breakout towards 1.07950.

You can purchase crypto coins here: Buy coins

Note: 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
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.