EUR/CHF: buy target - 1.0950
By: Dmitriy Chernovolov
- EUR/CHF rises inside impulse wave (5)
- Next buy target - 1.0950
EUR/CHF recently reversed up from the support zone lying between the support level 1.0700 (former resistance level which stopped the previous sharp impulse wave 3 in July, acting as support now, after it was broken by the previous impulse wave 5) and the 38.2% Fibonacci Correction of the previous intermediate impulse wave (3) from June.
The upward reversal from the aforementioned support zone completed the previous intermediate correction (4) – starting the active impulse wave (5). EUR/CHF is likely to rise further toward the next buy target at the resistance level 1.0950 (which stopped previous intermediate impulse (3)).