FOREX Chart Of The Day: EURCHF Short Idea

The strength meter suggests #EURCHF could move lower which could offer short opportunities…

Watch the video to learn more…

EURCHF Analysis

The strength meter has highlighted the sudden weakness in the EURO which could offer opportunities against stronger currencies. One of those currencies that could get stronger in a risk off environment is the Swiss Franc. If this pattern continues we could see the price of EURCHF trend lower. 

The weekly chart shows us that the momentum is bearish and looks likely to continue in the near term. If the price is going to move lower we could see a retest of the swing lows. 

If we are to see this then the 4hr time frame should continue to form lower lows and lower highs. The key areas to watch will be the previous supply zone and if the price retests the bullish candle before the new low formed we can look for short opportunities. 

Have you seen our week ahead analysis video? you can see it here.

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

See author's posts