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 reached buy target 1.1100

  • EUR/CHF reached buy target 1.1100
  • Next buy target - 1.1500

EUR/CHF continues to rise – following the earlier breakout of the resistance level 1.1100, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level 1.1100 is likely to accelerate the active impulse wave (iii) – which belongs to the minor impulse 3 of the extended intermediate (C)-wave from the start of November.

EUR/CHF is set to rise further toward the next buy target at the resistance level 1.1500 (which previously reversed the price at the end of January, as can be seen from the daily EUR/CHF chart below). By stop-loss can be placed below 1.1100.

Scroll to top