We expect this move to occur after break and retest of the current support level created. Price has completed the first five waves move down, now is correcting the move. This will be followed by other five waves move that constitute the third wave
I think we will reach at least 1.19 before going to a true reversal. Considering U.S is on the edge of everything. Very low gdp, high unemployment which will keep rising because of stimulus etc
ASAMForex
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@samuelerics36, Exactly, according to my wave counts in lower time frames, shows that price should rise before going short to correct the current downward move. My opinion for short trade is once a support level created now is broken. Then in USDCHF I see a reverse situation, these two pairs seems to have negative correlation.