USD\/CHF – Watch For A 5th Wave

Note: JOLTS today!

Forex Strategy is Bullish: We are currently @ 0.7771 in a channel and 4th wave. We are looking for a bounce and a continuation to the ATR Target @ 0.7855a. The overall target is the R4 @ 0.7870 area. We have convergence on the hourly. USDX is currently up but in a short correction. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 88 pips per day and it’s 90-day average is 51 pips per day.

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