USD/CHF resumes its bearish trend [Video]

Gregor Horvat Wavetraders

As expected, USDCHF broke sharply lower few weeks back, clearly making lower highs and lower swing lows which is an impulsive trend because of no overlaps. We even saw pair falling below 2023 lows, before market made a new turn up now, which so far is in three waves. So we see this as wave 4 that is turning down from the 38.2% resistance, at the area of a former wave four. Now that is breaking below channel support line, it confirms further weakness for fifth wave.

USD/CHF four-hour chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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