Technical analysis

EURCHF Wave Analysis – 25 January, 2022

EURCHF Wave Analysis – 25 January, 2022

• EURCHF reversed from support level 1.031

• Likely to rise to resistance level 1.0450

EURCHF currency pair recently reversed up from the key support level 1.031 (previous low of wave (1) from the end of December), intersecting with the lower weekly Bollinger Band.

The upward reversal from the support level 1.031 created the daily Doji, which started the active short-term ABC correction 2.

Given the strength of the nearby support level 1.031 – EURCHF currency pair can be expected to rise further toward the next resistance level 1.0450 (target price for the completion of the active wave 2).

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