Categories: Technical analysis

EURCHF Wave Analysis 14 October, 2020

• EURCHF reversed from support area

• Likely to rise to 1.0780

EURCHF recently reversed up from the support area located between the key support level 1.0730 (lower boundary of the sideways price range from July) and the lower daily Bollinger Band.

The support zone near the support level 1.0730 was further strengthened by the 50% Fibonacci correction of the upward impulse from July.

EURCHF is likely to rise further toward the next resistance level 1.0780 (midpoint of the aforementioned sideways price range).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURCHF

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