USDCHF has turned nicely to the downside since Friday, clearly in impulsive manner. Notice that market also retraced back to the area of wave B swing low after a broken support line of an upward channel. That's a very strong and important evidence for a trend change, thus it suggests that top has been formed at 0.8951 and that market will continue to the downside after any short-term corrective bounce. Ideally we will see a wave 2 retracement back to 0.8870/90 where broken support line may not become a resistance.
USDCHF 4h Elliott Wave Analysis
Interested in our analysis? Get now 1 month of full service for just 1€. For Trial Offer >> www.ew-forecast.com/service
Free Webinar invitation. This Friday at 12:00GMT. http://www.anymeeting.com/PIID=EA55DF83844E3B