EUR/CHF
LARGER UPWARD SLOPING CHANNEL

The EURCHF may push to a new high in the weeks ahead to complete an ending diagonal that began April 19th. Connecting the April 19th and June 6th lows and projecting a parallel line from the 5/20 high projects a 5th wave high near 1.6660. Coming under 1.6413 would signal a reversal.” The pair hit 1.6671 last week before reversing. If the decline stretches into 5 waves, then our confidence in the bearish bias would strengthen (so far, there are 3 waves down…see above).