Technical analysis

EURCHF Wave Analysis 4 March, 2021

EURCHF Wave Analysis 4 March, 2021

• EURCHF broke long-term resistance level 1.1055

• Likely to rise to resistance level 1.1200

EURCHF recently broke through the major long-term resistance level 1.1055 (former multi-month high from October of 2019).

The breakout of the resistance level 1.1055 accelerated the active minor impulse wave 5 – which belongs to the higher order impulse wave (C) from last November.

EURCHF is likely to rise further toward the next resistance level 1.1200 (forecast price calculated for completion of the active waves 5 and (C)).

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