ABC wave looking fairly likely to take shape.
EMA crossover should see the B leg complete properly.
Long-term trend line should cap downside risks at the end of the wave.
The swissy has an interesting set-up developing which could lead to both some upside and downside trending opportunities over the coming weeks. In the near-term, gains could continue to be posted all the way back up to the 1.0187 handle. In the medium-term however, we could see the USDCHF sinking back to test the trend line around the 0.9789 mark.
One of the key drives of these moves is the development of rather solid looking abC wave. These waves have been seen for many crosses sine the post-election rally and there is no real reason to suspected that the Swissy will be much different.. Although, before we ca be certain that this is indeed an abC wave, we will have to see this pair move back to the 1.0187 mark..