Market Analysis – December 25
The EURCHF pair has made a notable recovery after breaking through the major price level of 0.93390. Upon reaching the next critical support at 0.92770, a double bottom pattern emerged, triggering a strong bullish surge. This move has been followed by a return to an order block (RTO), which is expected to catalyze an uptrend.
EURCHF Key Levels
Demand Levels: 0.93390, 0.92770, 0.92080
Supply Levels: 0.94500, 0.95810, 0.96820
EURCHF Long-Term Trend: Bullish
On the daily chart, the EURCHF pair exhibited a series of lower highs from August to November, placing consistent downward pressure on the 0.93390 support level. Above 0.93390, the price action remained choppy due to a strong bullish defence. The eventual bearish breakout of this level occurred alongside a bearish trendline, which acted as resistance.
However, after the support broke, EURCHF descended to 0.92770, where a significant rejection candle formed on November 22. This level held firmly, and a double bottom pattern solidified a bullish response. The price rebounded sharply, breaking back above 0.93390 and signalling renewed bullish momentum.
EURCHF Short-Term Trend: Bullish
The recent rally off 0.92770 has retraced slightly to test a bullish order block, confirming a solid support base. The MACD (Moving Average Convergence and Divergence) indicator reflects increasing bullish momentum, reinforcing expectations of continued upward movement.
The price is projected to target the recent swing high at 0.94000, where the surge initially paused. With a strong bullish structure in place, EURCHF appears poised for further gains.
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