Categories: Technical analysis

EURCHF Wave Analysis – 4 March, 2022

• EURCHF broke support area
• Likely to fall to support level 1.000

EURCHF continues to fall after the earleir breakout of the support area located between the key support level 1.0200 and the support trendline of the daily down channel from last September.

The breakout of this support area accelerated the active impulse waves 3 and (3).

Given the clear daily downtrend and the strongly bearish euro sentiment – EURCHF can be expected to fall further toward the next support level at parity (1.0000).

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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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