For the EUR/CHF pair, it appears that we have completed (or almost completed) the fourth-wave correction in the form of a Zigzag. Several factors support this assumption:
• The price bounced off the price channel, signaling a potential continuation of the trend.
• Wave 2 retraced to the 61.8% Fibonacci level, suggesting that Wave 4 was likely to correct to 38.2%, which is exactly what happened.
A breakout above Wave B of the Zigzag at 0.95985 would confirm the bullish scenario, making it a valid level to consider long positions.
• The price bounced off the price channel, signaling a potential continuation of the trend.
• Wave 2 retraced to the 61.8% Fibonacci level, suggesting that Wave 4 was likely to correct to 38.2%, which is exactly what happened.
A breakout above Wave B of the Zigzag at 0.95985 would confirm the bullish scenario, making it a valid level to consider long positions.
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