USDCHF UPDATE: Price Set to Resume The Downtrend
I pointed out a key reversal zone in the USDCHF's analysis I published on Feb 17. Price reached the area and find sellers.
With the completion of the correction, a 5-3 wave cycle is considered completed. The trend is expected to resume in the direction of the impulse pattern which is bearish in the USDCHF's case.
The target below 16th January low is plausible in the months ahead.
Verdict:
I'm already short and I will be looking to sell on Lower Highs till we reach the blue zone on the chart.
With the completion of the correction, a 5-3 wave cycle is considered completed. The trend is expected to resume in the direction of the impulse pattern which is bearish in the USDCHF's case.
The target below 16th January low is plausible in the months ahead.
Verdict:
I'm already short and I will be looking to sell on Lower Highs till we reach the blue zone on the chart.
