CHF: Run To Safety During Brexit? (Elliott Waves)


USDCHF is turning down from parity once again and currently trying to break below the lower trendline support, so there is a chance that pair is looking to form a top of an ending diagonal in wave C. We think that drop below 0.9900 is coming where we may see an important decision regarding the bearish breakdown, possibly even into wave three.

What is also interesting regarding the CHF in general is that this currency may gain as investor may look for run into to more stable investment druing BREXIT volatility. EURCHF also has still open gap at lower levels.

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eur oct 16 2019