Home EUR/CHF Price Analysis: Bears target a 0.4% drop into the demand zone area
FXStreet News

EUR/CHF Price Analysis: Bears target a 0.4% drop into the demand zone area

  • EUR/CHF bears are engaging at 4-hour resistance with sights n a daily downside extension. 
  • The focus is on the demand territory, some 0.4% lower.  

Further to the following prior analysis, EUR/CHF Price Analysis: Bears to take advantage of the discount, bears have indeed engaged with the price action as follows:

4-hour live market analysis

As illustrated, the price has dropped below structure and engaged sellers on a restest of the newly formed resistance within a bearish environment.

In addition, the extra conviction is supported by the head and shoulders bearish pattern. 

Prior daily chart analysis

In the prior analysis, the bearish forecast was based on a weekly M-formation and an overextended daily bearish trend that has corrected to a 61.8% Fibonacci level. 

The expectations would be for a continuation of the downside into demand, some 0.4% lower, as illustrated in the above chart. 

Live market 

As illustrated, the daily chart is bearish with price capped by resistance and below dynamic trendline resistance also. 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.