GOLD: bullish 'Engulfing' pattern
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EUR/CHF broke key resistance level 1.1620
- EUR/CHF broke key resistance level 1.1620
- Next buy target - 1.1700
EUR/CHF recently broke through the key resistance level 1.1620 (which reversed the price multiple times at the start of June as can be seen from the daily EUR/CHF chart below). The breakout of this resistance level continues the active minor impulse wave (iii) of wave C – which belongs to ABC correction (B) from May. EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.1700.
Dmitry Chernovolov
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