Forex Trading Library
EUR
$1.06
(-0.24%)
GBP
$1.23
(-0.15%)
AUD
$0.69
(+0.25%)
JPY
$0.01
(-0.07%)
TRY
$0.06
(-1.9%)
INR
$0.01
(+0.28%)
SGD
$0.72
(-0.11%)
MYR
$0.23
(+0.03%)
JOD
$1.41
(-0%)
KWD
$3.26
(-0.01%)
SAR
$0.27
(+0.03%)
AED
$0.27
(-0%)
QAR
$0.27
(-0%)
OMR
$2.60
(-0.16%)
EGP
$0.05
(-0.19%)

USDCHF: Bulls Could Be Targeting 1.002 Next

0 908

The current structure hints to further upside as part of the cycle degree w-x-y-x-z triple zigzag.

With primary wave Ⓒ completed, the recent ascent could form a 5-wave move as part of the final bullish leg near 1.002.

Since the intermediate waves (1) and (2) have already been formed, we could expect a bullish ascend in the intermediate wave (3).

usdchf

With the bearish minor wave 3 level far from reach, this could be also seen as an incomplete 5-wave bearish move. In that case, wave Ⓒ is still under development.

This impulse consists of intermediate waves (1)-(2)-(3)-(4)-(5) and is currently correcting to complete wave (4).

A potential target for the conclusion of the intermediate correction is near 0.977, the 78.6% Fibo.  This could be followed by a decline to at least 0.961, i.e. to the lowest low.

 

Leave A Reply

Your email address will not be published.