Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

EUR/CHF: sell targets - 1.0400 and 1.0200

• EUR/CHF falls inside intermediate ABC correction

• Next sell targets - 1.0400 and 1.0200


EUR/CHF has been falling in the last few weeks – inside the C-wave of the intermediate ABC correction (B), which started in February – when the pair reversed down from the combined resistance zone lying between the following resistance levels: daily upper Bollinger Band, the 50% Fibonacci Correction of the previous sharp intermediate downward impulse wave (5) from the middle of January and the resistance level 1.0800. The currently active C-wave recently broke the support level 1.0600 (which stopped the previous A-wave).


EUR/CHF is likely to continue to fall toward the next sell targets – 1.0400 and 1.0200. Sell stop-loss can be placed above the recently broken former support level 1.0600.

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