The USDCHF pair most likely forms a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Its final part, wave Ⓩ, is under development.
The primary wave Ⓩ can end in the form of a standard intermediate zigzag (A)-(B)-(C). Wave (A) is a 5-wave bearish impulse, wave (B) has a horizontal internal structure of a double three W-X-Y.
At the time of writing, the formation of the final intermediate wave (C) is taking place. Perhaps it will be at 76.4% of impulse (A), and will end near 0.872 in the form of an ending diagonal.
And what if the development of correction (B) continues? Let’s consider an alternative scenario, where it can take the form of a triple three consisting of sub-waves W-X-Y-X-Z.
The minor sub-waves W-X-Y-X have been completed. It is necessary to wait for the development of the minor wave Z.
Probably, the bulls will send the market to 0.943, that is, to the maximum of the wave Y.
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