EURCHF Signals Bullish Reversal As Momentum Strengthens Toward Breakout

Market Analysis – November 3

EURCHF signals bullish reversal as momentum strengthens toward breakout. The EURCHF pair has shifted into a bullish phase, with price action climbing steadily above the 9-day Simple Moving Average near 0.9260, signaling renewed buying interest. The MACD histogram shows increasing bullish momentum, supported by a positive crossover between the MACD and signal lines. This confluence suggests that buyers are regaining control after a prolonged consolidation, positioning the market for potential upside continuation in the short to medium term.

EURCHF Key Levels

Supply Levels: 0.9370, 0.9450
Demand Levels: 0.9210, 0.9150

EURCHF Long-Term Trend: Bullish

From a technical standpoint, the price recently formed a double-bottom structure around 0.9210, indicating strong demand at lower levels. A breakout attempt is currently underway at the descending trendline near 0.9340, which has capped previous rallies since September. The recent higher low pattern further reinforces the bullish transition, while sustained closes above this area would confirm a decisive reversal in trend sentiment.

Looking ahead, a confirmed breakout above 0.9370 could propel the pair toward the next resistance region at 0.9440, with an extended target around 0.9580 if momentum persists. Buyers are expected to maintain pressure as long as price remains above 0.9250, turning any near-term retracement into a potential buying opportunity. Overall, the technical landscape points to growing bullish conviction and a likely continuation of the upward trajectory.

EURCHF Short-Term Trend: Bullish

EURCHF is exhibiting a bullish setup on the four-hour chart as price action shows consistent higher lows supported by the 9-period SMA turning upward. The pair has broken above the 0.9260 Fibonacci zone, confirming renewed buying pressure near short-term support.

The MACD histogram is edging into positive territory, indicating strengthening bullish momentum as sellers lose grip. A sustained move above the descending trendline could propel price toward the 0.9370 resistance level in the near term.

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