In the long term, the USDCHF seems to be forming a triple zigzag pattern. Only its final part, the wave, has not been completed.
The actionary leg is likely to end in the form of a standard intermediate zigzag (A)-(B)- (C). Wave (A) is a 5-wave bearish impulse, wave (B) has a horizontal internal structure of a double three W-X-Y.
Now the formation of the final intermediate wave (C) is taking place. Perhaps it will be at 76.4% of impulse (A), and will end near 0.872 in the form of an ending diagonal.
Let’s consider an alternative scenario in which an intermediate correction is still being formed and may take the form of a triple three consisting of sub-waves W-X-Y-X-Z.
The minor sub-waves W-X-Y-X have been completed. In the near future, market participants can expect the development of a minor wave Z, which may take the form of a zigzag.
There is a chance that the bulls will send the market to the level of 0.943, that is, to the maximum of wave Y.
-(B)- (C). Wave (A) is a 5-wave bearish impulse, wave (B) has a horizontal internal structure of a double three W-X-Y.){kind=link}