EURCHF Wave Analysis – 19 November, 2021

• EURCHF under bearish pressure

• Likely to fall to support level 1.04                                                                           

EURCHF currency pair under the bearish pressure after the price broke the long-term support level 1.05 (which stopped the previous multi-year downtrend in the middle of 2020).

The breakout of the support level 1.05 accelerated the active intermediate downward impulse wave (3).

Given the strong weekly downtrend, EURCHF can be expected to fall further toward the next support level 1.04.