Market Analysis – April 25
The EURCHF currency pair has recently undergone a significant bearish reversal. The price has pulled back to a volume imbalance at 0.9430 following the bearish displacement.
EURCHF Key Levels
Demand Levels: 0.9340, 0.9220, 0.9000
Supply Levels: 0.9580, 0.9770, 0.9940
Supply Levels: 0.9580, 0.9770, 0.9940
Initially, the EURCHF price established a bullish break of structure above the swing high at 0.9580. It then crashed suddenly thereafter. This deceptive move likely seeks to capture liquidity for a massive display of selling pressure. The sudden shift in market direction is usually referred to as the Judas Swing or a term known as market making.
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The swift price dip to the demand level of 0.9220 in April created a region of volume imbalance on the daily chart. This volume imbalance denotes inefficiency with a cross of wicks without a body. The market has not fully absorbed the selling pressure. This imbalance has magnetised the price back,, causing a pullback as the market seeks to rebalance.
EURCHF Short-term Trend: Bullish
EURCHF Short-term Trend: BullishOn the lower timeframe (4-hour chart), the higher timeframe pullback has given rise to a bullish trend. It is expected that the price will react to the volume imbalance and potentially stretch to the bearish order block below 0.9580. However, the market direction on the higher timeframe remains bearish until a break above the origin of the last bearish displacement at 0.9600.
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