EURCHF Wave Analysis – 27 July, 2020

• EURCHF broke resistance area
• Likely to rise to 1.0880

EURCHF recently broke through the resistance area located between the resistance level 1.080 (top of the previous wave A) and 61.8% Fibonacci correction of the previous downward impulse (1).

The breakout of the resistance area accelerated the active impulse wave C of the ABC correction (2) from the start of July.

EURCHF is likely to rise further toward the next resistance level 1.0880 (forecast price for the completion of the active impulse wave C).