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USDCHF Remains In Uptrend After Fourth Wave Pullback
USDCHF is coming higher, now breaking some big and important trendline connected from 2022 highs on a daily chart, where a breakout would lead to higher prices within big triangle range. Looking at the 4-hour chart, seems like pair is unfolding impulsive five waves up from the lows. Well, looking at the 4h time frame, notice a completed wave 3, so a retracement from that peak can be a corrective wave 4, which can send the price back to the highs, for wave 5 of (3) towards 0.92 - 0.93 area.
Grega
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.