Categories: Technical analysis

EURCHF Wave Analysis 25 November 2024

– EURCHF reversed from support zone

– Likely to rise to resistance level 0.9360

EURCHF currency pair recently reversed up from the support zone located between the long-term support level 0.9250 (which has been reversing the price from the end of December) and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

Given the strength of the support level 0.9250 and the bullish euro sentiment seen today, EURCHF currency pair can be expected to rise further to the next resistance level 0.9360.

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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The FxPro Tech Analysis Team
Tags: EURCHF

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