EURCHF currency pair recently reversed down with the daily Bearish Engulfing from the key resistance level 1.05150 (which has been reversing the price since the middle of February), intersecting with the upper daily Bollinger Band. The downward reversal from this resistance
level started the active impulse wave 3. Given the bearish euro sentiment seen across the FX markets today and the long-term downtrend, EURCHF currency pair can be expected to fall further toward the next support
level 1.03000.