Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
Market Analysis – October 6
EURCHF price continues to decline, indicating the market’s weakness since the reversal in mid-July 2022. The price has been diving sharply without any significant retracements until it recently encountered resistance at the 0.94100 level.
EURCHF Key Levels
Demand Levels: 0.96800, 0.95500, 0.94100
Supply Levels: 0.98300, 1.00500, 1.02800
EURCHF Long-Term Trend: Bearish
EURCHF price shows a bearish movement and has started to lose momentum as it approaches the 0.94100 demand level. This level has provided support for the price during its retracement after the sharp decline.
At the 1.00500 level, the price encountered resistance, and the retracement broke through the 0.98300 supply level. Further reinforcement by the retracement to the 0.618 Fibonacci level shows the fact that the price respected the 1.00500 level.
The rejection from the 1.00500 level has acted as a turning point for the price trend, leading to a significant convergence on the bearish trend. The formation of lower lows that respected the trend line created the convergence.
EURCHF Short-Term Trend: Bearish
Price action has indicated bearishness as it breached the 0.96800 demand level and disrupted the market structure. However, the 0.95500 level has provided support for the price, allowing for a pullback to close the Fair Value Gap and maintain the bearish trend.
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
