Categories: Technical analysis

EURCHF Wave Analysis – 15 July, 2020

• EURCHF broke resistance area

• Likely to rise to 1.0850

EURCHF today broke the resistance area located between the key resistance level 1.0765 (top of the (b)-wave from the middle of June) and the 50% Fibonacci retracement of the previous downward impulse (1).

The breakout of this resistance area should accelerate the active medium-term corrective wave (2).

EURCHF is likely to rise further toward the next resistance level 1.0850 (likely price for the completion of the active wave (2)).

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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