EURCHF Wave Analysis – 24 May, 2019

• EURCHF broke support area
• Further losses are likely

EURCHF recently broke through the support area lying between the key support level 1.1300 and the 61.8% Fibonacci correction of the previous upward impulse from March.

The breakout of this support area accelerated the active short-term impulse wave (iii).

EURCHF is expected to fall further and retest the next support level 1.1180 (which has been reversing the price from last September).