Technical analysis

EURCHF Wave Analysis 6 October, 2020

EURCHF Wave Analysis 6 October, 2020

• EURCHF reversed from support area

• Likely to rise to 1,0835

EURCHF recently reversed up from the support zone lying between the support level 1,0730 (lower boundary of the tight sideways price range from July), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from July.

The upward reversal from the aforementioned support zone created the daily Japanese candlesticks reversal pattern Hammer.

EURCHF price is likely to rise further toward the next resistance level 1,0835 (top of the active sideways price range).

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