EURCHF Wave Analysis 20 December 2024

– EURCHF falling inside minor impulse wave 5

– Likely to fall to support level 0.9250

EURCHF currency pair continues to fall inside the minor impulse wave 5, which started earlier from the  pivotal resistance level 0.9430 (standing well above the upper daily Bollinger Band), which has been reversing the price from the start of October.

The downward reversal from the resistance level 0.9430 created the daily Japanese candlesticks reversal pattern Bearish Engulfing.

Given the overriding daily downtrend and the strongly bullish Swiss franc sentiment seen today, EURCHF currency pair can be expected to fall to the next support level 0.9250, low of the earlier minor correction b.