EURCHF Wave Analysis 8 December, 2020

• EURCHF broke support area

• Likely to fall to 1.0750

EURCHF continues to fall after the pair broke the support area lying between the support level 1.0785 (which has been reversing the price from the middle of November) and the 38.2% Fibonacci correction of the upward impulse 1 from November.

The breakout of this support area accelerated the active short-term corrective wave 2.

EURCHF is expected to fall further toward the next support level 1.0750 (former resistance from October and the target price for the completion of the active wave 2).