Silver and USD/CHF undergoing a sharp fall from the highs
We see the U.S. dollar/Swiss franc (USD/CHF) currency pair trading in a potential impulse as part of a higher degree Wave 5, with price specifically trading in one of its sub-waves, blue wave four. If we are on the right track, then current sub-wave four may see limited upside around the Fibonacci ratio of 61.8, where an ideal reversal zone can come in play for a new push lower into sub-wave five of 5.
USD/CHF, 1 hour
Silver is also undergoing a sharp fall from the highs, which is also an indication that top for the previous Wave 5 was found. As such we labeled recent and current development as A-B and now C, with Wave B being a triangle pattern. That said, the current drop may be part of Wave C, that can see limited downside around the region of support at 16.883 level.
Silver, 1 hour