USDCHF, Completes Flag, Determinations!

Hello,

Welcome to this analysis about USDCHF, we are looking at the daily timeframe perspectives. USDCHF in the recent times moved on with some mainly decisive determinations in the structure as it formed these two main channel-formations that I discovered. As when looking at my chart we can watch there how USDCHF firstly formed this massive descending-channel-formation marked in orange, within this channel USDCHF has a coherent wave-count and the wave-A already completed, within the wave B USDCHF is now forming this ascending-channel-formation which has a high possibility to complete as a bear-flag when the wave-count within finishes and USDCHF bounces below the lower boundary. Such completion of this channel as a bear-flag will point to the bearish continuation and USDCHF will have activated the 0.8803 USD area as the target-zone. Once this zone has been reached it has to be elevated if USDCHF manages to bounce within there which is not unlikely as the wave-count has been completed or just continues. When the more likely scenario of a bounce emerges this will lead to a potential breakout of this descending-channel-formation above the upper-boundary from where USDCHF has the ability to continue, these are the main scenarios to consider here, it will be an important development.

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Information provided is only educational and should not be used to take action in the markets.