In our previous analysis, it was expected the EURCHF could fall, this was what happened, the euro move lower and hit our expected target levels.
We are still expecting more downward movements from the market price which is 1.4390-95.
I am sharing weekly and daily technical analysis report to give my overview of next movement.
EURCHF Weekly Analysis
We have set the Fibonacci retracement levels in a weekly chart to get the possible target numbers of this bearish move.
The minimum expecting target is at 1.37170 and maximum could be 1.11560 as per the Fibonacci levels.
It can also also possible the pair may give small correction before a new low. We will discuss that correction levels in our daily technical analysis below.
Please have a look at weekly chart to get the overview.
Weekly EURCHF Chart
Daily EURCHF Technical Forecast
EURCHF is falling without having any correction, there is still enough momentum in the pair that can make another bearish move towards our targets level.
It is expecting the price may start correction before hitting the bearish targets. The minimum correction level is at 1.16000 area. The price may reverse from this area for a new low with a maximum target 1.11515.
Please have a look at Daily time frame chart below, I have mentioned possible next movement diagram, correction and target levels.
Daily Technical Chart
EUR CHF SUPPORT & RESISTANCE LEVELS
Support 1: 1.13650
Support 2: 1.1250
Support 3: 1.11515
Resistance 1 : 1.16500
You can also find the support and resistance levels from DailyFX.
Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.