FX.co ★ blaise.rogahn | USD/CHF

Looking at the current wave formation on the USD/CHF currency pair on the H4 chart, it seems that the structure of a horizontal triangle as the 4th corrective wave of a descending impulse is fully formed, ending at the level of 0.7765. Whether this is true will only be shown by further development of the pair. If the quotes of the pair break below the trend line "b-d" with confirmation and updating of the nearest lower fractals, then this scenario may be valid. At the same time, the possibility of complicating the internal structure of wave "d" of the triangle should not be excluded. In any case, from the current positions, a resumption of the pair's decline is imminent. Whether this will be the development of the internal structure of the final 5th wave as part of a southern impulse will be clarified later. At least, the last bearish candle contributes to the beginning of the development of a southern scenario for the asset.