Elliott Wave Analysis: Bears Pushing USDCHF To 0.976!

Hello traders!

USDCHF is dropping like a rock from 1.0006 resistance region, where Fibonacci ratio of 38.2, and the upper trend line connected from start of May slowed the bulls down. Current drop is now part of a wave C) of a higher degree, that can take price below June lows, and towards 0.976 projected target. That said, be aware of temporary setbacks during current downtrend.

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USDCHF, 4h

usdchf, 4h

You can also check our previos article on the USDCHF here .

Have a great day!