Market Analysis – April 7
The EURCHF market experienced a brief yet intense surge, only to reverse course abruptly. The price is now in a state of rapid decline, plummeting downwards with considerable force.
EURCHF KEY LEVELS
Demand Levels: 0.9250, 0.9000
Supply Levels: 0.9770, 0.9930
EURCHF Long Term Trend: Bullish
The EURCHF price reached a crucial support level of 0.9250 in August, at which point the Relative Strength Index (RSI) indicated an oversold market. Notably, the RSI remained in a narrow range throughout the period from August to March, failing to enter overbought or oversold territories. This resulted in stagnant price action, characterized by weak and unconvincing bearish and bullish trends.
.
Recently, the price deceptively broke above the swing high at 0.9600, only to crash aggressively and sweep the last major low. This liquidity sweep followed a sharp decline, with the price freely falling back to the 0.9250 level. Such deceptive moves are typical in financial markets. Usually, the goal is to capitalize on liquidity before the original market intention is realized.
EURCHF Short Term Trend: Bearish
On a lower timeframe, the price is currently trading below the Simple Moving Average (SMA) with a period of 9. This indicates a price decline. The support level of 0.9250 appears to be a key target for forex signals, and traders may be looking to capitalize on this bearish trend.
Make money without lifting your fingers: Start using a world-class auto trading solution
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
9.8
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
9
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
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.
