NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/CHF rising inside intermediate impulses wave (5)
- EUR/CHF rising inside intermediate impulses wave (5)
- Next buy target - 1.1600
EUR/CHF has been rising in the last few trading sessions inside the intermediate impulses wave (5) which started earlier from the combined support zone lying between the key support level 1.1380, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward price impulse (v) from the middle of August. EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.1600 (top of the previous sharp intermediate impulse wave (3)).
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.