The EUR/CHF pair has broken down from a well-defined ascending parallel channel, indicating a shift in market structure and a possible continuation to the downside. The price had been consistently respecting the resistance zone near 0.9435–0.9440 (marked in red) and the support zone near 0.9375–0.9380 (marked in green), forming an upward-sloping consolidation channel.
After multiple rejections at the upper resistance, the price decisively broke below the support line with strong bearish momentum, confirming a bearish breakout from the channel.
🔻 Breakdown Implication
The height of the channel—measured from the support to the resistance—has been used to project the next potential downside target. The projected breakdown target is marked near 0.9309, which aligns with historical price reaction zones and provides a clean structure-based price objective.
This suggests the bearish move could extend further in the coming sessions unless the price quickly recovers and climbs back above the broken support, which would invalidate the breakdown structure.
🧠 Trading Outlook
This setup is ideal for momentum traders looking to capitalize on trend continuation after a failed bullish structure.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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After multiple rejections at the upper resistance, the price decisively broke below the support line with strong bearish momentum, confirming a bearish breakout from the channel.
🔻 Breakdown Implication
The height of the channel—measured from the support to the resistance—has been used to project the next potential downside target. The projected breakdown target is marked near 0.9309, which aligns with historical price reaction zones and provides a clean structure-based price objective.
This suggests the bearish move could extend further in the coming sessions unless the price quickly recovers and climbs back above the broken support, which would invalidate the breakdown structure.
🧠 Trading Outlook
- Bias: Bearish after confirmed breakdown from channel
- Entry (if not in already): Consider selling on retest of broken support (~0.9375)
- Target: 0.9309 (based on channel height)
- Stop Loss: Above 0.9390–0.9400 (above breakdown point)
This setup is ideal for momentum traders looking to capitalize on trend continuation after a failed bullish structure.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
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.