On USD/CHF we have seen a very strong turning point this month from 0.9442 where we see a low in place, which means pair completed wave 5) of an ending diagonal placed in wave C-circled which is fully visible on higher time frames. Reason for a low in place is an impulsive rally from 0.9442; that’s a five wave pattern that confirms a change in trend from bearish now to bullish mode. Also, notice that price is above the red trendline from where we can expect a continuation up into 0.9900 area after a daily close above 0.9794.
USDCHF, 4H
