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: buy targets - 1.1000 and 1.1050

By: Dmitriy Chernovolov

  • EUR/CHF reached buy targets 1.0900 and 1.0950
  • Next buy targets - 1.1000 and 1.1050

EUR/CHF recently rose sharply – breaking through the two consecutive resistance levels 1.0900 and 1.0950, both of which were set as the buy targets in our previous forecast for this currency pair. The breakout of these resistance levels continues the active intermediate impulse wave (3) – which started earlier in December - when the pair reversed up from the support zone surrounding the support level 1.07600 (low of previous wave Ⓑ).

EUR/CHF is likely to rise further in the active impulse waves (3) and Ⓒ toward the next buy targets at the resistance level 1.1000 and 1.1050 (top of previous wave Ⓐ).

Scroll to top