USDCHF Aims Higher and Crude OIL Points Lower

Intermediate

Hi traders,

USDCHF is currently recovering from the 0.9861 region, giving us an idea of a possibly completed three-wave correction within wave 2, which points to more upside. If that is the case, then a bullish continuation may now be in play, which can break above the 1.0006 bullish level and above the upper channel line. These two breaks would confirm a completed pullback, and a five-wave recovery to be in play on the pair.

USDCHF, 4h

intraday usdchf

On crude oil we are still looking at a bearish impulse in play, down from 76.83 level. We see current overlapping and contracting activity above the lows as sub-wave 4) which can be unfolding a triangle correction, that can push price to a new low once completed.

Crude oil, 4h

Oil Chart


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Current Market Analysis
Euro breaks down, GBPCAD threatens upside

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