EURUSD
On the intraday chart of EURUSD we are tracking an impulsive drop, with a completed sub-wave three at recent low. As we know, after every five wave move, a three wave contra-trend movement follows, so the recent bounce up to around 1.1215 could be the first leg of a new minimum three wave corrective retracement in blue wave iv that may ideally find resistance around the formal red wave iv) near 1.1230 zone.
EURUSD, 1H
USDCHF
On the USDCHF pair we are observing a nice impulsive intraday action that should continue even higher based on recent developments with overlapping and slow price action that we labeled as wave 4, which may send the price to a new high in the sessions ahead. There is room for 1.0000 while market trades above 0.9800.
USDCHF, 1H
