{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurchf-bears-seeks-to-correct-impulsive-move\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurchf-bears-seeks-to-correct-impulsive-move\/","headline":"EURCHF Bears Seeks to Correct Impulsive Move","name":"EURCHF Bears Seeks to Correct Impulsive Move","description":"EURCHF key Zones Resistance zone: 1.11500, 1.08650Support Zone: 1.05100, 1.06650   EURCHF Market Analysis The market has been bullish since the 19th of May 2020. EURCHF is seen to climb on an ascending trend line on the daily chart with consistent higher lows. The trend line has been a support to propel EURCHF higher. A […]","datePublished":"2021-05-28","dateModified":"2021-05-28","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/EURCHF-1-Day-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/EURCHF-1-Day-1.png","height":560,"width":1274},"url":"https:\/\/forexschoolonline.com\/eurchf-bears-seeks-to-correct-impulsive-move\/","about":["Article","charts","EUR\/CHF","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Trade Idea","Trade Setups","Trading strategy"],"wordCount":362,"keywords":["Daily Chart","EURCHF","Impulsive movement","Price Analysis","Technical Analysis"],"articleBody":"EURCHF key ZonesResistance zone: 1.11500, 1.08650Support Zone: 1.05100, 1.06650 EURCHF Market AnalysisThe market has been bullish since the 19th of May 2020. EURCHF is seen to climb on an ascending trend line on the daily chart with consistent higher lows. The trend line has been a support to propel EURCHF higher. A major consolidation is seen on the chart which lasted for sixty-seven trading days, from the 11th of November 2020 till earlier this year on the 16th of February 2021. A major breakout of the consolidation is seen from the 17th of February. The price rallied, breaking out of the resistance zone at 1.08650 till it reached the year\u2019s high at 1.11500. This quick rise in price is currently experiencing a correction with a gradual price drop. The correction forms a descending channel on the daily chart.EURCHF Market AnticipationThe market is generally on an uptrend on the daily chart. The current correction of the impulsive move seems to seek new support. The previous resistance zone at 1.08650 is likely to act as the new support for retracement in the market.The Stochastic indicator is dropping to the oversold region as price seeks support to get ready for a buy.The market trend is currently bearish on the four-hour chart which is a result of the retracement on the daily chart. The head and shoulder pattern is currently seen on the four-hour chart. Price would likely reach for the border of the descending channel at the break of the head and shoulder\u2019s neckline.The Moving Averages have crossed each other facing down, showing price bearishness. The Stochastic indicator is currently in the oversold region. This shows the market willingness to buy, to fill the descending channel as the price approaches the daily resistance level at 1.08650.The market is currently bearish on the four-hour chart and bullish on the daily chart. It is therefore important to be patient for a sync of bullishness on both time frames for greater chances of winning trades.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."}