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Swissfranc

USDCHF, Develops Main Bear-Flag, Important Perspectives!Hello, Welcome to this analysis about USDCHF on the 4-hour timeframe perspectives. As when looking at my chart we can watch there how USDCHF recently increased with bearishness in the structure and fell below the 0.9175 support which now confirmed as a main resistance. From there on USDCHF moved on to form this main potential bear flag formation in which USDCHF emerged with a wave count within the formation and already almost completed it. This potential flag formation together with the initial impulse to the downside are forming the first waves A and B of the main wave count. If USDCHF now increases with bearishness further and finally breaks down below the lower boundary of the channel this will complete the whole formation as a bear flag and USDCHF will continue down the line to approach the lower bear flag target zone marked in red in my chart. When the whole bear flag formation has been completed it is also likely that USDCHF continues with increased bearishness. Once the targets have been reached the situation needs to be elevated again and USDCHF needs to show if it manages to reverse in there or when this does not happen and USDCHF breaks below the level a bearish continuation and extension of the wave C will be indicated. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
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