USDCHF: 5-Wave Impulse Could Complete Double Zig-Zag

0 384

The current USDCHF formation on the 4-hour timeframe hints to a double zigzag pattern consisting of primary waves Ⓦ-Ⓧ-Ⓨ.

The primary structure suggests that waves Ⓦ and Ⓧ are complete, whereas wave Ⓨ is under development and only on its way to completing the first correction.

This is going to conclude the intermediate zigzag wave (W).usdchf

The intermediate wave (W) requires the successful formation of minor wave C since minor waves A and B are complete.

Bulls have managed to form the first wave of minor wave C which makes the next coming trading days interesting as an upside validation could be expected to take prices near 0.9982 level.

The target would respect the tenancy of zigzag waves A and C being equal.

With bulls gaining strength the ascent of the market could be more rapid that often seen.

usdchf 4h

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.