In our last forecast, It was predicted for bearish movement in EURCHF towards minimum 1.13160 and maximum 1.11530. The price moves exactly according to the expectations and hit the first target level 1.13160 and currently trading around 1.1280.
There is still enough momentum in EURCHF for lower movement towards the second target level.
Today I am sharing update weekly and 4-Hour technical analysis to give my overview about next movement.
Weekly EURCHF Technical Analysis
The price moves as per expectations and hit our first target level. It could give lower movement this week again but it is also expecting we may see some correction before a new low. The next target level is same 1.11530 and this could be the final bearish target.
We will look closely 4-hour time frame analysis to get the exact correction target level for bearish entry.
Please have a look at the weekly technical chart below, I have mentioned the best possible movement diagram and levels.
Weekly EURCHF Technical Chart
4-Hour EURCHF Technical Analysis
The trend is still bearish and the price is moving lower towards our longer-term target level. The weekly momentum is still bearish but we can expect a small correction in 4-Hour chart because os losing momentum and couple of reversal candles.
This correction may start from current market price towards 1.13500 level.
Please have a look at 4-Hour technical chart below, i have created the diagram with correction target level.
The longer-term bearish target will remain the same as per the weekly analysis shared above.
4-Hour EURCHF Technical Chart
EUR CHF SUPPORT & RESISTANCE LEVELS
Support 1: 1.11530
Resistance 1 : 1.13500
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