EURCHF - BEARS ARE READY TO PUSH PRICE LOWER

Mar 3

Symbol - EURCHF

CMP - 0.9397

EURCHF has breached its trend support, disrupting its overall bullish structure. The strengthening of the US dollar is exerting downward pressure on the forex markets.

The fundamental outlook for the Eurozone remains highly negative, primarily due to the policies of the Trump administration and broader US economic conditions, particularly with regard to the ongoing tariff dispute. The strengthening dollar generally creates a challenging environment for the markets.

From a technical perspective, following the breakdown of the uptrend's support, bearish sentiment is solidifying as prices remain within the selling zone, confirming the dominance of the bears.

Key resistance levels: 0.9380, 0.9417
Key support levels: 0.9329, 0.9294

While a retest of the reversal zone at 0.9400 is possible, attention should currently be directed to the 0.9380 level. A sustained consolidation below this level could trigger further downward movement.

Mar 4

Trade active

CMP 0.9420

Testing 0.9417 - 0.9425 zone.
Short position active.

Mar 4

Note

CMP 0.9372

+48 pips in profit.
Holding with cost SL now.

Mar 5

Trade closed manually

The position reached a profit of over +75 pips before reversing promptly, driven by tariff-related news and a sharp sell-off in the dollar, which provided good support to the Euro. The short position was closed at 0.9400 (+20 pips in profit).