LeoPrime Daily Market Analysis

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EURCHF under bearish pressure; Likely to fall to 1.08600

EURCHF continues to fall inside the short-term impulse wave 3 – which belongs to the intermediate impulse wave (3) from the middle of October. The price just broke the pivotal support level 1.09250 (low of the previous minor correction) – which should accelerate the active impulse waves (3) and 3. Given the clear daily downtrend and the strengthening bullish sentiment affecting Swiss Franc today – EURCHF is likely to fall toward the next support level 1.08600 (low of the previous sharp impulse wave 1).

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