EURCHF Wave Analysis – 5 June, 2020

• EURCHF broke multiple resistance levels

• Likely to rise to 1.0950

EURCHF has been rising forcefully over the last few trading sessions breaking through a series of key resistance levels – the last one being 1.0860.

The breakout of the resistance level 1.0860 coincided with the breakout of the 61.8% Fibonacci correction of the previous extended weekly downward impulse from last October.

EURCHF is likely to rise further toward the next resistance level 1.0950 (target price for the completion of the active ABC correction 2).

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.

Next Platinum Wave Analysis – 5 June, 2020 »

Previous « EURCAD Wave Analysis – 5 June, 2020

Published by

The FxPro Tech Analysis Team

Tags: EURCHF

5 years ago

The crypto market is stuck in the mud
Market Picture The crypto market has been hovering in a narrow range for the past…
Crypto market fails to confirm reversal
Market Picture The crypto market is consolidating in the $2.70 trillion area, near the bottom…
What is next: China and US Inflation & Canada’s Rate
The focus returns to inflation in the new week. On Sunday, China is expected to…