EUR/CHF rising inside impulse waves 5 and (3)

EUR/CHF rising inside impulse waves 5 and (3)

  • EUR/CHF rising inside impulse waves 5 and (3)
  • Next buy target - 1.1500

EUR/CHF has been under strong bullish pressure lately – following the earlier breakout of the two intersecting resistance trendlines belonging to the two different-length daily up channels from June and April. The breakout of these up channels was preceded by the breakout of the resistance levels 1.1100 and 1.1130. EUR/CHF can be expected to rise further in the active impulse waves 5 and (3) toward the next buy target at the next resistance level 1.1500.


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Morning brief for May 30

 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…

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