usd-chf-4h-FXIDown trend is present in 4 hours time frame of USD/CHF currency pair. Key resistance is present at 1.0326 price level. In past few trading days, price action has printed a bearish Wave 5 leg.

Based on Elliott wave analysis, current decline looks like a leading diagonal pattern. So, I expect a possible bottom in price action in coming trading days. Next, I expect a bullish leg in daily chart. So, a good idea is to wait for the market to print a bullish leg and then look for a sell trading chance to join the down trend. If bullish candlestick closes above 1.0326 vital support level then down trend is going to end. In such case, I will stop trading and re-examine the price chart of USD/CHF currency pair.

By FXOpen