The EURCHF currency pair on the Daily Chart has been in a downtrend since 23 April 2019 when it registered the high price at 1.14765. Subsequently, the price displayed a series of lower tops and lower bottoms. On 13 August 2019, the USDCHF currency pair recorded the low price of 1.08412. Applying Oscillator Analysis on the price chart, one can notice that price is trading below the SMA 60 period Moving Average line, a fact that confirms the downward direction of EURCHF currency pair. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. All three technical indicators are in agreement for the downward bias of the financial instrument. Applying the Fibonacci tool on the price chart, three price targets may be calculated. The first price target is estimated at 1.09118 (161.8%). The second price target is seen at 1.08181 (261.8%). The third price target is projected at 1.06665 (423.6%). The first target was reached successfully. The EURCHF currency pair is currently trading below the downtrend line. The RSI Oscillator and price display a positive divergence which could pull the market higher as long as demand is greater than supply. The presence of the Bullish Engulfing pattern hints for a potential rally to the upside. Of course, supply and demand as well as the crowd sentiment will determine the course of EURCHF currency pair.