Since the beginning of January USDCHF has trended to the upside with clear 5 wave impulsive move.
Price has corrected 50% of the initial move to the upside.
Price also seems to have found support on the moving averages on the daily chart
There is also Bullish RSI divergence on the 4hr chart
If wave 3 is to equal the wave 1, target should be about 0.98
Will personally be taking a long with SL against 0.906
Less aggressive trade would include a wider SL below the 61.8% fib
Bless Jah
Price has corrected 50% of the initial move to the upside.
Price also seems to have found support on the moving averages on the daily chart
There is also Bullish RSI divergence on the 4hr chart
If wave 3 is to equal the wave 1, target should be about 0.98
Will personally be taking a long with SL against 0.906
Less aggressive trade would include a wider SL below the 61.8% fib
Bless Jah