EURCHF Reattempts Breakout in a Grand Style

The EURCHF market has been in a consolidation phase since April. A significant displacement from the dip at 0.92720 now appears to be fueling a fresh impulsive wave aimed at breaking free from this prolonged range.

Supply Levels: 0.94300, 0.94900, 0.96000

Demand Levels: 0.93500, 0.92720, 0.92250

For the first time since April, the daily chart is printing large, unclustered candles accompanied by a prominent fair value gap. The price has been consistently capped below the 0.94300 resistance level, with several failed breakout attempts. The Anchored Volume Profile analysis indicates substantial resistance between 0.94300 and 0.92720, contributing to the sluggish price fluctuations within this zone.

As the August trading month opened, the price dipped below the range lows established since May. A sharpl reversal followed to initiate a strong bullish ascent. This liquidity sweep appears to have fueled the momentum needed for a potential breakout, propelling the price energetically back toward the 0.94300 resistance level.

On the 4-hour chart, EURCHF maintains a strong bullish structure. After testing the 0.94300 resistance, the pair retraced into a bullish order block within a fair value gap. This action launched the price back to retest the resistance. If a breakout is successful, the next major target will be the bearish mitigation block on the daily chart. This would serve as an optimal objective for the best forex signals.