There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
EUR/CHF broke the support level 1.0900
- EUR/CHF broke the support level 1.0900
- Next sell target - 1.8200
EUR/CHF continues to fall inside the minor corrective wave (iv), which started earlier from the resistance zone lying between the resistance level - 1.0976 (previous buy target set in our earlier forecast for this currency pair) and the upper daily Bollinger Band. The price today broke the support level 1.0900 – which intensified the bearish pressure on this currency pair.
EUR/CHF is expected to fall further to the next sell target at the support level 1.8200 (previous strong resistance level from March, intersecting with the 50% Fibonacci correction of the upward impulse from April).
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.