USDCHF Resuming Its Bearish Run - Elliott Wave Analysis

Good evening traders,

USDCHF made a five-wave drop from the 1.024 area, and unfolded wave A) as part of a three-wave decline. The overlapping price activity which followed can be a flat correction within a wave B), with its leg C being an EW ending diagonal, which can be completed at the 1.0028 area, as price dropped dramatically from that level. A drop below the 0.984 area would be further evidence that a correction is completed, and that a new bearish cycle is in progress.

USDCHF, Daily

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