The EURCHF Price Declines Towards Support Levels
Login

The EURCHF Price Declines Towards Support Levels

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

Azeez Mustapha

Updated:

Market Analysis – March 8

The EURCHF market is showing a very weak bearish trend. The lower highs and lows are very close to one another. The buyers have not surrendered totally as bullish impulsive moves are still observed within the bearish parallel channel.

EURCHF Key Levels

Demand Levels: 0.9850, 0.9820, 0.9770
Support Levels: 1.0000, 1.0060, 1.0090 EURCHF Price Declines Towards Support Levels

EURCHF Long-term Trend:

EURCHF market posted small sized candles in December. This candles lined up sideways to reveal the consolidation in the market. The size of the candles and the continued formation of shadows side by side was a sign of low volume in the market. In January, volatility was injected into the market. Large candles with gaps rallied to 1.0090.

The sellers response was noticed immediately as the price dropped significantly to form a low at the bullish order block. This was fulfilled with four consecutive bearish days. The Stochastic tipped into the oversold region where the buyers were woken up. A bullish displacement which failed to rise beyond the previous swing high was observed. The lower high successfully swept the previous low to shift into a bearish market.

EURCHF Price Declines Towards Support Levels

EURCHF Short -term Trend: Bearish

The upper Bollinger band has resisted further ascent in the market in March. The price decline initiated when the market was overbought as seen on the Stochastic. The price is currently diving to the lower border of the channel at 0.9850.

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