EURCHF: ⬆️ Buy
– EURCHF rising inside sideways price range
– Likely to test resistance level 0.9420
EURCHF currency pair recently reversed from the support area between the strong support level of 0.9300 (lower border of the sideways price range from April) and the lower daily Bollinger Band.
The upward reversal from this support area created the clear daily Japanese candlesticks reversal pattern Bullish Engulfing – which started active impulse wave 3.
Given the strongly bearish Swiss franc sentiment seen today, EURCHF can be expected to rise to the next resistance level 0.9420 (upper border of the active sideways price range).
Source: Fxpro
