EURCHF Buyers Pick a Fight at the 0.95450 Market Level

EURCHF Analysis – Buyers Seek to Reverse the Trend

EURCHF buyers pick a fight at the 0.95450 market level. The bulls are working hard to establish a strong foothold at this key level. This level has proven to be difficult for sellers to penetrate. This, therefore, presents an opportunity for the bulls to push back toward the 0.96500 key area.

Yesterday, the sellers came close to reaching the 0.95450 zone, but today the buyers closed the market with a strong engulfing candlestick. Their actions demonstrate their interest in fighting back.

EURCHF Key Levels

Resistance Levels: 0.98620, 0.96790
Support Levels: 0.95200, 0.95000

In July, a downward trend was observed around the 0.97640 key level. This causes the buyers to withdraw, providing an opportunity for the sellers to shake the EURCHF price. Taking advantage of this bearish opportunity, the sellers drove the price down to the 0.95200 market zone. However, from this key level, the buyers have once again started to regain interest. The bulls staged a fight and made progress, but they were repelled close to the 0.96500 market level.

Last week, the price pulled back, but the buyers are showing signs of renewed strength. In the weeks to come, the buying momentum could potentially become even stronger, indicating a potential breach of the 0.96500 key area. Traders should closely monitor these developments as they unfold.

Market Expectation

On the shorter time frame chart, the buyers are pushing the price upward. This upward movement may be temporary, as the sellers still maintain control over the short-term time frame. As the new week begins, traders should pay close attention to how the price action unfolds. It may provide valuable insights into market trends.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.