Elliott wave analysis of USD/CHF - Make or break time!

Preferred Count

Alternate Count

 

 

USD/CHF

 

 

We are at an very important make or break it point. As long as support at 0.9015 protects the downside the running triangle (wave b of the triangle went beyond the starting point of wave a) is the preferred Count and if this Count is the correct count, then we should soon see a rally back above 0.9075 and more importantly a break above 0.9138, which will ease the downside pressure and indicate, that the running triangle has finished and a thrust out of the triangle towards the upside should be expected towards 1.1734.

 

However, if we break below 0.9015, the triangle scenario is invalidated and we should instead expect a deeper correction towards 0.8567 (the bottom of wave iv of A), we might even see a move lower towards the 61.8% corrective target of wave A, which comes in at 0.8122, but only time will tell.

 

Stay flexible!