EURCHF is starting to look very interesting.
Price spent a long time trading beneath the same resistance area. Every attempt to move higher was stopped, and sellers kept the pair contained. But the latest move looks different—buyers have pushed through that barrier with clear strength.
The next question is whether the former resistance can now act as support. A controlled pullback into that zone, followed by a bullish reaction, would give the breakout much more credibility.
If buyers hold the reclaimed area, EURCHF could have room to extend toward 0.96350.
If price falls back below the breakout zone and stays there, the bullish idea would need to be reconsidered. Until then, the path of least resistance appears to be higher.
What is your view on this breakout? Let me know in the comments.
This is not financial advice, only my personal chart view. Trade safely.
Price spent a long time trading beneath the same resistance area. Every attempt to move higher was stopped, and sellers kept the pair contained. But the latest move looks different—buyers have pushed through that barrier with clear strength.
The next question is whether the former resistance can now act as support. A controlled pullback into that zone, followed by a bullish reaction, would give the breakout much more credibility.
If buyers hold the reclaimed area, EURCHF could have room to extend toward 0.96350.
If price falls back below the breakout zone and stays there, the bullish idea would need to be reconsidered. Until then, the path of least resistance appears to be higher.
What is your view on this breakout? Let me know in the comments.
This is not financial advice, only my personal chart view. Trade safely.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.