USDCHF made some recovery in last few weeks, but so far it’s still moving in three waves up from the lows, suggesting this could be a more complex wave four rally — a counter-trend move still within the ongoing ending diagonal. For now we can see some nice reversal down, after only a.b.c legs from the low, with current leg eyeing the  0.7924 low. If that level is breached, it would indicate a drop towards new lows. So, in the next few days, we should get clarity on whether the bears will remain in control. Read more