EURCHF Buyers Could Race Back to the 1.02480 Market Level

EURCHF Analysis – Buyers Are Still Ready to Define a Bullish Outlook

EURCHF buyers could race back to the 1.02480 key zone. The buyers are simply looking for a successful ride in the market. The bulls are strongly motivated even though there has been a recent pullback in price. The price action is therefore closing out its week with a strong bullish indication. This implies that the new week to be played out is more likely to be focused in a bullish direction. Buyers could therefore trade more closely back to the 1.02480 key zone. Traders should therefore stay alert as the new week unfolds on the daily time frame.

EURCHF Key Zones

Resistance Zones: 1.05310, 1.02480
Support Zones: 0.97200, 0.94900

The bulls have been nurturing the currency pair from the 0.94900 key zone upon bearish settlement to this level. Before buying development, sellers had already created a strong flow of bearishness. The bearish flow was activated from the 1.05310 key zone as numerous order levels were affected. Since the 0.94900 significant level, buyers have been exerting their influence on the EURCHF price. The bulls picked up the buying order as the 0.97200 key zone was broken. After a few months of accumulation, the buyers were able to penetrate above the 0.98900 key zone.

The recent analysis trend shows buyers ready to engage in the market. The bulls are now prepared to flow out after a return to the 0.98900 key zone. With buying momentum on the increase, traders are looking forward to more displacement in the market. The positive region still holds solidly on the MACD (Moving Average Convergence and Divergence) indicator chart. The Bollinger Indicator is still ready to force out buying action on the daily chart.

Market Expectation

On the 4-hour chart, there is still more inclination for buyers to force out more bullish action. The bulls are still excited to push higher, back to the 1.02480 key zone, as buyers remain in charge on the lower time frame. EURCHF Buyers Could Race Back To The 1.02480 Market Level.

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