Technical analysis

USDCHF Wave Analysis – 29 October , 2018

  • USDCHF rising inside impulse wave 3
  • Further gains are likely

USDCHF has been rising in the last few trading sessions inside the short-term impulse wave 3, which started earlier from the strong support level 0.9850 (which reversed the price multiple times in June and July).

The active impulse wave 3 belongs to the medium-term impulse wave (3) from the end of September.

USDCHF is expected to rise further and re-test the next major resistance level 1.0050 (which stopped the previous sharp impulse waves 3 and (A) – as can be seen below).

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