USDCHF is in a strong uptrend from 0.9550 where pair found a support following Trump's victory. We now see sharp waves without overlaps, so we can be experiencing an impulse that belongs to a bigger bullish trend.

However, as we know nothing moves in straight lines so recent slow price action above the 1.0000 support was a corrective wave which unfolded as a double zig-zag consolidation with support kicking in at the 1.0021 level, from where a nice sharp reversal towards and above the extreme of sub-wave X had followed. As such this correction is completed and a new five wave structure is now in motion towards higher levels.

At the moment we see price trading at the start of sub-wave 5), after some support had been found for the previous wave 4) at the 1.0217 level. As such more gains may now come into play towards the 61.8 or 261.8 Fibonacci ratio for the final wave 5).

USDCHF, 4H