On the updated chart of USDCHF, we see price undergoing a nice sharp and strong rally to the upside, probably as an indication for a reversal. If that is the case, then recent big three wave pattern to the downside is completed and more gains may follow in the near-term. At the moment we see price trading in the first wave 1), that may in sessions ahead find a potential top and make a minimum three wave reversal to the downside. Possible support for the following wave 2) may later then be around the middle channel line.
USDCHF, 4H
