EURCHF Wave Analysis 21 November 2024

– EURCHF under bearish pressure

– Likely to fall to support level 0.9250

EURCHF under the bearish pressure after breaking the support zone between the support level 0.9335 (which has been reversing the price from September) and the 61.8% Fibonacci correction of the upward price move from August.

The breakout of this support zone accelerated the active minor impulse wave iii of the higher order impulse wave (3) from May.

EURCHF can be expected to fall further to the next support level 0.9250, former strong support from January and August.