EUR/CHF: buy targets - 1.0900 and 1.0950
By: Dmitriy Chernovolov
- EUR/CHF rises inside primary corrective wave Ⓒ
- Next buy targets - 1.0900 and 1.0950
EUR/CHF continues to rise inside the primary corrective wave Ⓒ - which started earlier – when the pair reversed up from the strong support zone lying at the intersection of the support level 1.0770 (which also recently reversed the (A)-wave of the previous primary ABC correction Ⓑ), the lower daily Bollinger Band, the 38.2% Fibonacci Correction of the previous upward impulse from June and the support trendline of the daily down channel from September.
EUR/CHF is likely to rise toward the next buy target at the resistance level 1.0900 (top of previous wave (B)) – the breakout of which can accelerate the active wave Ⓒ toward 1.0950.