Categories: Technical analysis

EURCHF Wave Analysis – 22 October, 2021

• EURCHF broke long-term support level 1.0675

• Likely to fall to support level 1.0650                                                                        


EURCHF continues to fall after the price broke the long-term support level 1.0675 (which has been reversing the pair from October of 2020).

The breakout of this support level 1.0675 continues the active impulse wave 3 which belongs to the longer-term impulse wave (3) from September.

Given the prevailing downtrend, EURCHF can be expected to fall further toward the next support level 1.0650 (target for the completion of the active impulse wave 3).

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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Tags: EURCHF

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