EURCHF Buyers Capitalize on Bullish Momentum
EURCHF bullish sentiment prevails as buyers target the 0.97000 level. The pair has experienced a resurgence, with buyers taking charge to push the price higher after a period of bearish dominance since last month, when bears prevented a breach of the significant 0.99300 level.
EURCHF Key Zones
Resistance Zones: 0.97000, 0.99310
Support Zones: 0.95610, 0.94800
The bearish trend pushed the price down to the 0.94800 zone, where buyers showed strong resolve, initiating a solid reversal. Since last week, bullish momentum has been growing, and buyers are not showing any signs of backing down.
Currently, buyers are aiming to push further towards the 0.97000 level. Technical indicators support this, with the Parabolic SAR (Stop and Reverse) moving higher and the Momentum indicator climbing upward, indicating that buyers remain in control.
Market Expectation
In the short term, buyers maintain a strong presence and are aiming higher. Both the Momentum indicator and the Parabolic SAR continue to support bullish strength, suggesting that buyers are well-positioned to push towards the 0.97000 key level. If they successfully break above this level, it could pave the way for a more sustained rally in the EURCHF pair. Forex signals indicate potential buying opportunities at these levels.
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 for your investing results.
Leave a Reply