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USD/CHF Resuming the Bear Trend

USDCHF has completed a five-wave contracting move within a higher degree wave 4) correction at te 0.909 level, and started turning impulsively lower. An impulsive decline, and break below the 0.898 level now confirm that price on USDCHF is turning bearish into a wave 5) of a bigger trend, and that a complex correction in wave 4) is completed. Wave 5) is an impulse, which means it is structured by five legs within the direction of the trend. Wave 5) can be targeting the Fib. ratio of 100.0, post-triangle thrust measurement at the 0.875 level, or if price extends even lower, it can target the second post-triangle thrust measurement at the 0.870 level, where end for a wave 5) can be seen.


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