A sharp rally through 0.9209 swing high and up to 0.9340 must be wave three and not wave five. So if that’s the case then we know that pair should reach further gains after any minor correction. We are now tracking wave (iii) of 3 that may find some resistance around current levels, but only for a short-term move back in wave (iv) before uptrend resumes to 0.9400. Invalidation level is at 0.9209 as wave (iv) must not trade into the territory of a wave (i).
This Bullish move was already anticipated on our past article.
USDCHF 4h Elliott Wave Analysis