The current USDCHF structure on the 1-hour timeframe shows the final part of a large triple zigzag consisting of cycle sub-waves w-x-y-x-z.
It is possible that the price reduction in the intervening wave x, which is a double zigzag, has recently come to an end. Currently, there is a development of the actionary wave z of the cycle degree.
It is likely that the wave z will be a standard 3-wave zigzag of the primary degree.
It is assumed that in the next coming trading days, market participants could see the development of sub-waves, as shown on the chart, near 1.023.
At that level, cycle wave z will be at 76.4% of previous actionary wave y.
Alternatively, the construction of the bearish intervening wave x has not yet come to an end. This wave can be more complex in its form, that is, it may take the form of a triple zigzag rather than a double zigzag.
Thus, the confirmation of this option could be a reduction in the price and the construction of the final sub-wave.
It is possible that the wave will strive for equality with the previous actionary wave, and therefore its end is possible near the level of 0.917.
The probability of achieving this coefficient is high.
