EURCHF Analysis – Sellers Continue to Gain Confidence
EURCHF makes a U-turn as bears make progress. The market has taken a dramatic swing as sellers have made a sudden surge in the market. After a strong bullish run throughout June, the buyers were unable to maintain their strength, and the sellers have managed to break through the 0.97600 key level. This has resulted in the price dropping back below the 0.97600 key level and a reversal of the trend. The buyers have been unable to keep up their momentum, and sellers have taken control of the market.
EURCHF Key Levels
Resistance Levels: 1.00510, 0.98620
Support Levels: 0.97600, 0.96830
However, it remains to be seen if the sellers will be able to keep up their momentum or if the buyers will be able to regain their strength. If the sellers can maintain their strength, then the EURCHF pair will further decline in the market.
The reversal of the trend is a reminder that the market is constantly changing and that traders need to be prepared for sudden changes. Traders need to stay up-to-date on market activity and be prepared to react to sudden changes. By keeping a close eye on the market, traders can be prepared to make decisions that are in their best interests.
Market Expectation
On the 4-hour chart, the price action is pushing the trend further downward. Traders should prepare for more selling pressure to enter the market as buyers are moving away. The MACD indicator is a valuable tool for traders to analyze and gauge the market’s current sentiment.
The MACD (Moving Average Convergence and Divergence) indicator has revealed that sellers are returning to the market. The bearish histogram is now pushing even lower, indicating that the bulls have lost their momentum. This means that selling strength is now the dominant factor in the market.
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