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USDCHF Wave Analysis – 05 February, 2019

  • USDCHF broke resistance area
  • Further gains are likely

USDCHF today broke the resistance area lying between the parity (which has been steadily reversing the price from the end of November) and the 61.8% Fibonacci correction of the previous sharp downward ABC correction 2).

The breakout of this resistance area should accelerate the active short-term impulse wave 3 of the medium-term upward impulse sequence (C) from last September.

USDCHF is expected to rise further and re-test the next resistance level 1.01250 (top of the previous impulse wave 3 from November).

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Source: FxPro


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