I-EURCHF Market Gyrates Ngaphakathi kweBearish Channel

UAzeez Mustapha

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Uhlalutyo lweMarike - ngoMeyi 4

Iimarike umkhwa is well defined by the downward-sloping channel on the daily timeframe. The demand level of 0.9770 halted the descent of the price, causing a false breakout and an abrupt reversal in March. The demand level is still well-defended, as the price decline was stopped upon the test in April.

Amanqanaba aphambili e-EURCHF

Amanqanaba eMfuno: 0.9770, 0.9640, 0.9480
Amanqanaba obonelelo: 1.0050, 1.0210, 1.0340
I-EURCHF Market Gyrates Ngaphakathi kweBearish Channel

EURCHF Ixesha elide Trend: Bearish

The month of December was characterized by consolidation. The silent moment of price, usually followed by wild expansions, has been experienced this year. A lower high formed after the test of the 1.0050 supply zone to reveal a failure swing. The two highs formed a double top. With the break of the neckline, the market turned bearish.

The sudden upthrust after the consolidation was eventually not the direction of the market in 2023. Hence, the push-up in price after the consolidation is a manipulation after accumulation. The distribution followed the manipulation to the downside.

I-EURCHF Market Gyrates Ngaphakathi kweBearish ChannelEURCHF Ixesha elifutshane Trend: Bullish

A bullish SMS (shift in market structure) has been observed in the 4-hour timeframe. The Parabolic SAR (Stop and Reverse) also signals a bearish trend. The descent is excited to resume upon the test of the resistance trendline.

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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