USD/CHF May See A Bearish Turn (Elliott Wave Analysis)

USD/CHF is trading higher for the last month or so but with overlapping price action since the start of March, which makes us think that bulls are losing strength. Normally that’s an indication of an upcoming reversal, as the pair can be forming a top here with an ending diagonal. A fall below 0.9491 and daily close outside of a corrective channel could confirm a bearish turn.

1-Hour USD/CHF

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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