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usdchf elliott

The USDCHF formation hints to a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ pattern in cycle wave z .

Wave Ⓩ has begun its formation in intermediate wave (A). We expect the simple (A)-(B)-(C) zigzag to end near 0.883.

At that level, wave Ⓩ will be at 61.8% of zigzag Ⓨ.

usdchf

An alternative scenario shows the second intervening wave Ⓧ  of the triple zigzag is not yet complete.

It consists of a simple (A)-(B)-(C) zigzag. However only wave (A) is fully complete. The correction in wave (B) is expected to end soon following a minor triangle in wave B.

Following wave (B) prices could extend in the intermediate impulse wave (C) near 0.927. At this level intervening wave Ⓧ will be at 50% of wave Ⓨ.

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The post USDCHF Bearish Trend to Complete Zigzag appeared first on Orbex Forex Trading Blog.


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