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FxPro Forex Analysis: EUR/CHF Wave Analysis – 17 August , 2018

EUR/CHF reversed from long-term support level 1.1250
• Further gains are likely

EUR/CHF continues to rise after the earlier sharp upward reversal from the long-term support level 1.1250 (which also previously reversed the price sharply in August of 2017) – strengthen by the lower daily Bollinger Band.

The upward reversal from this support level created the daily Japanese candlesticks reversal pattern Morning Star, highlighted below.

Given the proximity of the support level 1.1250, EUR/CHF is expected to rise further and retest the next key resistance level 1.1380 (former powerful support from May).

EURCHF - Primary Analysis - Aug-17 1921 PM (1 day)

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