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USDCHF Elliott Wave Analysis: Bullish Reversal

USDCHF fell to a new low last week followed by a sharp reversal to the upside so we suspect that pair has bottomed after five waves down in wave (c). With that said, pair could continue higher in days ahead if we consider an ending diagonal on a daily chart where each leg is made by three waves! However it would too soon to confirm larger trend reversal on USDCHF until we see 0.9076 level broken. We need an overlap with this figure to invalidate alternate scenario of blue wave (iv) as labeled on the chart.

USDCHF 4h Elliott Wave Analysis

Written by www.ew-forecast.com