Usd/Chf
4 Hour chart trend: Mixed. Main price points: 1.0589, and 1.1021. Looking for: Triangle. On the swissy chart, the prices created a recent top around the 76.4% area as expected, which could be a top of a blue wave c leg of a fourth wave triangle. If we are on the right track then prices should be trading lower during the next few sessions and days, into our wave d leg with an expected three wave structure. In this case, traders should find wave d lows somewhere above wave b before a last leg of a wave e triangle gets under way.
OIL
4 Hour chart trend: Mixed. Main price points: 58.30, 68.90 and 73.27. Looking for: Break through the 68.90. Oil made another fast and unexpected move during the past session, as the market sharply turned around the 50% Fibonacci support level. However, oil looks more bullish than bearish at the moment so we have focused on a bullish impulse count, especially if the break through the $68.90 area happens. This is key for a move into $73 per barrel. We are looking at a possible blue wave III confirmation that could send the market higher as a blue wave II looks to be completed around the recent $62 area. The $58.30 area must hold; other wise the wave count will have to be re-worked.
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