USDCHF Double Zigzag To Complete Wave X


The structure of the USDCHF pair suggests that the cycle wave y has ended. This was followed by the cycle intervening wave x.

The intervening wave x takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. Currently, there is a decrease in the price in the final wave Ⓨ. This takes the form of an intermediate double (W)-(X)-(Y) zigzag.

In the near future, the price could continue to move in the intermediate wave (Y) to the level of 0.913. At that level, wave x will be at 61.8% of wave y.

After the end of wave x, bulls can enter the market by starting to build the actionary wave z.


According to an alternative scenario, the formation of the cycle intervening wave x is fully complete. Now we are seeing a price increase and the development of a cycle wave z. Perhaps it takes the form of a primary double Ⓐ-Ⓑ-Ⓒ zigzag.

Wave Ⓐ will take the form of a simple impulse and will end at the level of 0.946. This is where the actionary cycle wave y ended.

Then, after a slight correction, prices are likely to move higher in the impulse wave Ⓒ.

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About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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