FX.co ★ blaise.rogahn | USD/CHF

On the weekly chart for the USD/CHF currency pair, we have a fully formed southern formation in the form of a giant double zigzag "WxY". The last zigzag "Y" has a complex internal structure. Its wave "a" is a stretched impulsive formation, wave "b" is a "running" horizontal triangle, wave "c" is a small truncated impulse ending at the level of 0.7628. It is precisely from this level, against the backdrop of the existing local bullish divergence of the pair's quotes with the MACD indicator histogram, that a resumption of their upward development trend is expected. At least, the 1st local wave of growth was formed as an expanded initial diagonal ending at the level of 0.8041. However, then a sharp decline in the pair's quotes followed in the form of a zigzag to the current minimum at the level of 0.7774, which I associate with the 2nd corrective wave. The formation of the lower weekly fractal at this minimum indirectly confirms this version. And to confirm the upward development trend of the asset, an update of the upper fractal at the level of 0.8041 is required.