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Elliott Wave Charting: Usd/Chf Up-trend

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Elliott Wave Charting: Usd/Chf

Upward price action on swissy, from the 0.9916 lows could be counted as an unfinished impulsive wave. In the middle of February the third leg of that impulse structure, a blue wave (3) was completed at 1.0897 when the Short correction of a blue wave (4) started.

Over the past few weeks our wave (4) has dropped below the 1.0506 zone where daily price action was unable to close, before a powerful reversal point appeared and put wave (5) in play.

The wave count remains valid with a Long trend that is expected in a blue wave (5) so long as the pair trades above 1.0500 support.

THeLFB ChfTheLFB Charting: Usd/Chf daily view

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