The current USDCHF structure shows a cycle triple zigzag consisting of sub-waves w-x-y-x-z.
The final corrective wave z is under development and takes the form of a triple zigzag. This consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
In the near future, the price could fall in the primary wave Ⓩ near 0.889. At this level, it will be at 78.6% of primary zigzag wave Ⓨ.
An alternative scenario shows primary intervening wave Ⓧ as a bullish triple zigzag.
After completing a decline in the minor corrective wave B, we can expect the price to rise in the impulse wave C near 0.933.
At that level, intervening wave Ⓧ will be at 61.8% of wave Ⓨ.Test your strategy on how the CHF will fare with Orbex - Open Your Account Now.