FX.co ★ blaise.rogahn | USD/CHF

In the USD/CHF currency market, analyzed on the lower wave degree of the M15 timeframe, an alternative bearish impulsive trend-reversal scenario is forming. This scenario represents an initial downward wave taking shape as an expanding leading diagonal triangle. Such patterns are increasingly common in financial markets; however, at the moment, the probability of this one playing out is only 10%. It is important to note that in this particular case, a similar wave count would also be applicable to a bullish scenario of corrective decline. As a result of the analysis, it can be concluded that on the lower wave degree of the USD/CHF currency market, the probability of the current trend ending and the probability of its continuation are roughly equal. In addition, the probability of the continuation of the bearish corrective phase and a decline in prices toward the lower boundary of the ascending channel is assessed as high.