USDCHF has been and is still forming a large bullish base. The rally from the March lows is a series of 5-wave impulses that are either extending or forming a wave-1 wedge. Note the RSI range (40/80) that is reserved for bull markets; near-term though momentum has failed to make a discerning new high with prices and this suggests a short-term stall to the uptrend. (daily) S/t, the impulse from the July 1 lows has formed a complete 5-wave rally where waves-1,3 & 5 are all equal. Wave-5 has formed a small 5-wave rally of its own. In order to correct this up move we’d expect a pullback to Fibonacci retracement zones that are forming between .9010/.8970. (240min) Levels: Support – .9050, .9030, .9000, .8930 Resistance – .9086, .9156, .9250
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