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USDCHF Elliott Wave Analysis: Bullish Reversal

USDCHF is moving nicely to the upside from 0.8800 region where we see signs of a completed bearish trend. Notice that current rise is sharp that already moved beyond 0.9000 swing high so we assume that market is forming an impulsive recovery, now in subwave 3 of 1) testing some resistance area around 0.9060 from where we may see a corrective pullback in wave 4 back to 0.8980-0.9000 zone before uptrend resumes again

USDCHF 4h Elliott Wave Analysis

(click to enlarge)Click to enlarge

Written by www.ew-forecast.com