CADCHF D1Canadian Dollar/Swiss FrancFX:CADCHFWinlouh✅ 1. Long-Term Context CAD/CHF has been in a heavy downtrend for months, but several key reversal signals now appear: 🔹 Trendline Breakout A major descending trendline has been cleanly broken. Breakout signals a shift of momentum from bearish to neutral/bullish. Price is now retesting the broken structure. 🔹 Bullish Divergence at the Low (Not shown in the image, but the wick structure suggests exhaustion) A classic sign of bearish trend exhaustion. Fits with wave (B) being the final liquidity sweep. ✅ 2. Elliott Wave Structure (ABC Correction) Your chart shows: Wave (A) First impulsive upward move breaking minor structure. Establishes new bullish sentiment. Wave (B) Price retraced downward but did NOT break the major low, forming a higher low. Price taps liquidity around 0.57144 – 0.57528, shown by the blue levels. This is a classic B-wave liquidity sweep. Wave (C) – upcoming bullish leg Projected to be a strong rally targeting key Fibonacci zones: 0.60060 → 0.5 retracement 0.62000 area → 0.786 retracement 0.63500–0.64000 → 0.90 extension Your wave projection is consistent: Wave C tends to be equal or stronger than Wave A. ✅ 3. Liquidity & Zone Structure 🔹 Demand Zone (support) 0.57144 (major liquidity pool) 0.57528 (secondary liquidity level) Price is reacting from this zone, confirming demand. 🔹 First Target (C) 0.60060, which is the 0.5 retracement This is also previous structure resistance → likely a reaction before continuation. 🔹 Major Targets 0.786 retracement at ~0.62000 0.90 extension at ~0.63500–0.64000 These zones also align with multiple horizontal levels on the weekly timeframe. ✅ 4. Market Behavior Outlook 🎯 Bullish Scenario (Primary) Price forms a support above 0.5750–0.5800 Retest completes wave (B) or minor substructure Strong push upward toward 0.60060 Short correction after hitting 0.60060 Wave (C) continues toward 0.62–0.64 This is the most likely scenario based on your structure.