USDCHF Wave Analysis 8 January, 2021

• USDCHF reversed from support level 0,8800

• Likely to rise to 0,8900

USDCHF recently reversed up from the key support level 0,8800, intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0,8800 created the daily Morning Star which started the active correction (ii).

USDCHF is expected to rise further toward the next resistance level 0,8900 (top of waves (iv) and (ii) and the target price for the completion of the active correction (ii)).