EUR/CHF: buy targets - 1.1000 and 1.1050
By: Dmitriy Chernovolov
- EUR/CHF completed intermediate wave (4)
- Next buy targets - 1.1000 and 1.1050
EUR/CHF continues to rise – following the earlier sharp upward reversal from the support zone lying between the support level 1.0840 (which also previously reversed the pair with the daily Morning Star at the start of September), 61.8% Fibonacci Correction of the previous sharp impulse wave 5 and the upper channel line of the daily up channel from April. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing – marking the end of previous wave (4).
EUR/CHF is likely to rise further in the next intermediate impulse wave (5) (which belongs to the extended primary Ⓒ-wave from April) toward the next buy targets 1.1000 and 1.1050 (top of wave (3)).