USD/CHF And The Importance Of 1.0000 Psychological Level

USD/CHF made a five-wave drop from the 1.024 area, and unfolded wave A) as part of a three-wave decline. The overlapping price activity which followed can now be a flat correction within a wave B), with its leg C being an Elliott Wave ending diagonal. A sharp drop from the 1.000 psychological area, and below the 0.9800 region would confirm a completed A-B-C correction, and more weakness into a wave C).

usdchf, daily

USDCHF, daily

You can find more on the Elliott Wave ending diagonal in our previous article.

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