Sharp drop on USD/CHF can be positive for Gold [Video]

Gregor Horvat Wavetraders

An ending diagonal is a special type of pattern that occurs at the end of the trend. Normally it causes a sharp reversal as it happened recently on USDCHF . The question is where we go from here? Well, we have five waves down on Swissy which means more downside is possible after a three waves up. And if that would be the case then Gold can rally further based on strong correlation between CHF and GOLD .

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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