USDCHF extended its gains in the last week,
through 0.9044 swing and more importantly, it moved out of a recent upward
channel. This breakout (blue circle) usually occurs in the middle of a wave
three of a five wave rally, so if we respect the price action then pair is now
forming an important bullish reversal from October lows. With that said, USDCHF
is expected to stay in bullish mode, so current slow and sideways price action
above 0.9090 is wave 4 of 3) which means that price is expected to rise up in
wave 5 of 3) towarss 0.9180-0.9190.
Written by www.ew-forecast.com
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