On the hourly chart of USDCHF, we see price slowly and steadily turning to the downside, following a possibly completed higher degree wave c at the 0.9568 level. As we look closer, we also see a completed Elliott wave ending diagonal that was located within the mentioned wave c. The speciality of this pattern is that it can indicate a sharp and strong reversal to follow into the opposite direction, and usually towards the starting point of the pattern, which in our case come in at 0.9356 level.
USDCHF, 1h
