EURCHF Price Continues to Plummet
Login

EURCHF Price Continues to Plummet Following Bearish Break of Structure

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Market Analysis: July 28

EURCHF  has been experiencing a continuous decline following a bearish break of its structure. This downward trend was initiated after the swing low of 0.9880 formed on January 18th. During this downward delivery, the market has witnessed intense price action with noticeable pullbacks and ranges.

Key Levels for EURCHF

Demand Levels: 0.9650, 0.9600, 0.9500
Supply Levels: 0.9750, 0.9800, 0.9850

EURCHF Price Continues to Plummet Following Bearish Break of Structure EURCHF Long-term Trend: Bearish

The long-term trend for EURCHF remains bearish since the break of its structure on July 11th. The invalidation of the demand level at 0.9670 has opened the way for a significant bearish movement. The recent bearish displacements have been particularly steep, showing the market’s extreme weakness.

To illustrate the bearish trend, the Moving Averages with periods nine and twenty-one are currently positioned above the daily candles. Additionally, the Stochastic shows oversold conditions, suggesting a potential retracement before the continuation of the downward trend.

EURCHF Price Continues to Plummet Following Bearish Break of StructureEURCHF Short-term Trend: Bearish

Zooming in on the 4-hour chart, a shift in market structure has been observed, revealing a retracement on the twenty-four-hour chart. Once this retracement concludes, the downward trend is expected to resume, possibly leading to a sweep of the most recent low to reach the significant level of 0.9500.

Do you want to take your trading to the next level? Join the best platform for that here 

  • 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
$50 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

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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News