EURCHF (4H chart):
In the current cycle 5 impulsive wave have been done. We have a corrective downtrend. 3 PRZ is drawn that are high potential zone to reverse (end of the correction).
On the other hand I can see a head and shoulder pattern. If it break down the neck line, head and shoulder pattern will be completed and downtrend will continued till PRZ 3 (number 2 scenario- purple arrow), otherwise number 1 scenario may come true (green arrow).
Let's see what will happen.
In the current cycle 5 impulsive wave have been done. We have a corrective downtrend. 3 PRZ is drawn that are high potential zone to reverse (end of the correction).
On the other hand I can see a head and shoulder pattern. If it break down the neck line, head and shoulder pattern will be completed and downtrend will continued till PRZ 3 (number 2 scenario- purple arrow), otherwise number 1 scenario may come true (green arrow).
Let's see what will happen.