Market Snapshots

EURCHF Wave Analysis – 5 June, 2020

EURCHF Wave Analysis – 5 June, 2020

• EURCHF broke multiple resistance levels

• Likely to rise to 1.0950

EURCHF has been rising forcefully over the last few trading sessions breaking through a series of key resistance levels – the last one being 1.0860.

The breakout of the resistance level 1.0860 coincided with the breakout of the 61.8% Fibonacci correction of the previous extended weekly downward impulse from last October.

EURCHF is likely to rise further toward the next resistance level 1.0950 (target price for the completion of the active ABC correction 2).

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