USDCHF, according to the current Wave Count, is trading in a Complex Structure, more exactly a Triple Three.
If the Wave Count is correct, more downside would be expected before the Larger Degree Correction would complete.
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150+ pips
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Wave Count Update: Correction starting.
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Wave Count Update:
more down-side
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Downside limited at these times with only one more swing left in the final leg, which would provide a Bullish Divergence. A possible Reversal could be right around the corner.
Very complex counting there my friend. I, however, have it the opposite to you with EUR bearish and Swissy Bullish.
Food for thought!
Lionheart-EWA
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@donaldsaw, I agree with your views, no worries. Just that i wouldn't label EUR/USD as an ending Diagonal just yet. I am Bearish now, as per my update on the EUR idea. We will see the next legs and then decide.
donaldsaw
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@Lionheart-EWA, I'll have a look at your count now. The reason why I have wave 5 is ED is because the shape looks right and Wave 1 vs. Wave 5 Fib ratio = 1.618% so a key termination point from an EW/Fib perspective.
I think today/tomorrow session will be telling!
Lionheart-EWA
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@donaldsaw, we will wait and see, then decide, anyway, i am expecting USD to start a significant correction in a bullish stance.
Food for thought!