• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

EURCHF Consolidates as Market Awaits Clear Direction Amid Subdued Activity

Johnathon Fox
11/06/2024 | UPDATED ON: 11/06/2024

EURCHF Buyers Push for Breakout

The EURCHF currency pair is consolidating as the market waits for a clear direction amid subdued activity. Neither buyers nor sellers have been able to break out of the narrow range, with prices fluctuating between a support level of 0.93340 and resistance at 0.94210. Despite minor attempts from both sides to breach these levels, the pair remains in an accumulation phase, lacking strong momentum.


EURCHF Key Levels

Resistance: 0.94200, 0.94800
Support: 0.93340, 0.92860
EURCHF Consolidates as Market Awaits Clear Direction Amid Subdued Activity
This period of consolidation follows a bearish stretch that started last month when sellers pushed the price down from the 0.94820 zone, breaking multiple support levels. However, as the price neared the 0.93350 mark, buyers stepped in, halting further decline. Since then, the market has remained in a holding pattern, with neither the bulls nor the bears able to take control.

In situations like this, the capital flow into the EURCHF market tends to balance out, reflecting market indecision. The earlier selling pressure from the 0.94820 high initially drove the market lower, but buyers have accumulated enough positions around the 0.93350 support to stabilize the pair.

The Stochastic Oscillator shows a slight upward movement, indicating that some buyers are cautiously entering the market again. However, the buying pressure remains moderate, without enough strength to push prices above the 0.94200 resistance level. Meanwhile, the Momentum Indicator is flat, further underscoring the lack of a clear trend.


Market Expectation

In the short term, EURCHF is expected to stay within its consolidation range. Key levels to monitor are the 0.94200 resistance and 0.93350 support, as a breakout in either direction could mark the beginning of a more defined trend.
EURCHF Consolidates as Market Awaits Clear Direction Amid Subdued Activity
If the price breaks above 0.94200, it will signal potential bullish momentum, with EURCHF possibly advancing toward the 0.94800 level. On the other hand, a drop below 0.93350 could reignite bearish sentiment, with sellers targeting the 0.92850 support. For now, the market may continue to hover within this range until a breakout occurs, providing traders with clearer signals, potentially informed by forex signals.

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.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

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.

View all posts by Johnathon Fox →
Previous Post: « Tamadoge (TAMA/USD) Trade Forms a Base, Keeping Spirals
Next Post: EURUSD Buyers Test 1.08780 Resistance as Dollar Gains Strength »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

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.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US