The EURCHF is approaching interesting levels in an interesting manner. It approaches trend line resistance of the downside trend, which started in 2007. This trend is depicted in light blue in our charts on this page and runs currently around the 1.17 level. Interestingly it seems to approach this trend in a wedge pattern. The waves within the wedge subdivide into 3-wave zigzags. We forecast the EURCHF to reverse soon into a minor wave 2 correction.
Trade closed manually
Not developing as planed. -0.46%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.