
#AUDCHF 🇦🇺/🇨🇭 Wave outlook for the currency pair on the 1-hour timeframe
Reversal pattern ⚡️
👉 A ending diagonal pattern is forming, representing wave C of an extended flat, within a larger-degree corrective wave. 👌
✨ Upon completion of this pattern through a break of a key level and a break of the lower boundary 🏹, this will confirm the bearish outlook, indicating that we are facing a downward wave 🔥 that may drive the price to form a new low, ideally reaching the 100% 💸 level of the previous wave’s length.
✨ The decline may extend further depending on market developments.
👉 Factors supporting this view:
1️⃣ A clear impulsive five-wave structure representing wave (1)/(A).
2️⃣ A well-formed corrective pattern that may complete through an ending diagonal, signaling a reversal in direction.
3️⃣ A proper correction consistent with flat wave structures.
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