EUR/USD reversed from support zone Next buy target - 1…
CAD/CHF rising inside minor impulse wave 3
- CAD/CHF rising inside minor impulse wave 3
- Next buy target - 0.7900
CAD/CHF continues to rise inside the minor impulse wave 3 which started previously from the support zone lying at the intersection of the key support level 0.7740 (low of the previous wave (a)), lower daily Bollinger Band and the Fibonacci cluster made out of the 50% Fibonacci correction of the upward impulse from August and the of the 38.2% Fibonacci correction of the upward impulse from June. CAD/CHF is expected to rise further to the next buy target at the next resistance level 0.7900.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.