FX market is mixed with lower USD against the EUR and CHF, but bullish against AUD and CAD and sideways on cable.
On EURUSD we see price in minor recovery mode which we think it’s wave (iv) that can slow down soon around current trendline and Fibonacci resistance area. Ideally we will see a breakdown in the next 24 hours, while 1.2503 must stay in place.
EURUSD 1h Elliott Wave Analysis
USDCHF is showing very similar structure; we see pair in bullish mode with more gains to come in sessions ahead as pullback from the highs looks like a fourth wave that may look for a base around 38.2%.
USDCHF 1h Elliott Wave Analysis