Latest USD CHF Analysis and Forecasts
Interesting pattern on USD/CHF points higherPublished April 24, 2020
On the weekly chart of USD/CHF we can see that price was for the last five years making a sideways, and overlapping price activity; an Elliott wave running triangle in B. This triangle can now be completed based on latest sharp recovery from the 0.9176 level, where a low was put into place. If that is the case, then be aware of a minimum three-wave recovery above the 1.023 zone for a higher degree wave C, in weeks/months to come.
That said, let us also be aware of temporary pullbacks, and first one can already be underway, down from 0.99 level. Support for wave B)/2) can be at the Fib. Ratio of 50.0/61.8 (0.959 level, or deeper at the 0.944 level.
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BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
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