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USDCHF Primary Impulse To Complete Near 0.875

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The formation of the USDCHF currency pair shows the development of a major corrective trend.

The intervening wave x of a cycle degree seems to be fully complete. The formation of the primary standard Ⓐ-Ⓑ-Ⓒ zigzag has now begun.

In the short term, the development of minor sub-waves 3-4-5 to the level of 0.875 is likely.

At that level, wave (5) will be at 76.4% of wave (3).

usdchf

An alternative scenario shows that the primary impulse wave Ⓐ has ended.

If this hypothesis is correct, then we could soon see the development of the corrective wave Ⓑ. This correction can take the form of a standard  (A)-(B)-(C) zigzag of the intermediate degree.

The internal structure of the wave Ⓑ is schematically shown in the chart. Its end is likely to end near 0.934. At that level, it will be at 76.4% of impulse Ⓐ.

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