LeoPrime Daily Market Analysis

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EURCHF falling inside impulse wave (5); Likely to fall to 1.05250

EURCHF continues to fall inside the medium-term impulse wave (5), which started earlier from the resistance area lying between the key resistance level 1.06500 (which has been reversing the price from the start of March), upper daily Bollinger Band and the resistance trendline of the daily down channel from January. Given the strong daily downtrend and the rising bullish sentiment affecting Swiss Franc today – EURCHF is likely to extend the losses toward the next support level 1.05250 (which stopped the previous impulse waves 5 and (3)).

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