Yesterday we anticipated a corrective rally up on EURUSD and at the same time down on USDCHF. Corrections definitely took place but at the moment it’s not clear if they are already completed or no. I personally suspect that we will see another push up on EURUSD in the next few hours before larger trend will finally turn bearish. Notice that Recent move down from around 1.3650 on EURUSD is very slow and choppy. To me it looks corrective, so it can be wave (x) as a part of a complex wave 4 recovery that may still retest 1.3660/70 region before turning down.
EURUSD 1h Elliott Wave Analysis
So if EURUSD would move slightly higher than USDCHF is still in its own incomplete downward correction. I am talking about wave 4 that may see wave (c) down to 0.9000 support zone in the near term, from where we will be looking for a move to the upside.
USDCHF 1h Elliott Wave Analysis
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