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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 target - 1.0200

  • EUR/CHF reached sell target 1.0400
  • Next sell target - 1.0200

 

EUR/CHF has been falling steadily in the last few trading sessions – in accordance with our earlier forecast for this currency pair. The price recently broke the support level 1.0400 (which is the first of the 2 sell targets that were set in our previous report for EUR/CHF). This support level earlier reversed the minor impulse (i) of the active C-wave from the middle of March. This C-wave is a part of the intermediate ABC correction (B) from February.

 

Having recently broken the support level 1.0400, EUR/CHF is expected to fall further in the active C-wave toward the next sell target 1.0200 (forecast price for the termination of the active impulse (ii)). Sell stop-loss can be placed above 1.0400.

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